Bank of America Corp DE Cuts Holdings in argenex SE $ARGX

Bank of America Corp DE trimmed its position in argenex SE (NASDAQ:ARGX) by 0.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 400,117 shares of the company’s stock after selling 659 shares during the quarter. Bank of America Corp DE’s holdings in argenex were worth $292,185,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in ARGX. Janus Henderson Group PLC lifted its position in shares of argenex by 3.4% in the first quarter. Janus Henderson Group PLC now owns 2,541,732 shares of the company’s stock worth $1,847,592,000 after buying an additional 83,568 shares in the last quarter. Cim LLC grew its holdings in argenex by 5.0% during the 1st quarter. Cim LLC now owns 2,769 shares of the company’s stock valued at $2,022,000 after buying an additional 133 shares in the last quarter. Oddo BHF Asset Management Sas grew its holdings in argenex by 6.5% during the 1st quarter. Oddo BHF Asset Management Sas now owns 25,009 shares of the company’s stock valued at $18,263,000 after buying an additional 1,536 shares in the last quarter. Amundi increased its stake in argenex by 44.6% in the 1st quarter. Amundi now owns 61,433 shares of the company’s stock worth $44,861,000 after acquiring an additional 18,948 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its stake in argenex by 25.9% in the 1st quarter. EverSource Wealth Advisors LLC now owns 258 shares of the company’s stock worth $188,000 after acquiring an additional 53 shares during the last quarter. 60.32% of the stock is owned by institutional investors.

argenex Price Performance

NASDAQ:ARGX opened at $830.79 on Tuesday. The firm has a market capitalization of $51.97 billion, a price-to-earnings ratio of 31.90, a PEG ratio of 1.08 and a beta of 0.46. The business has a 50 day simple moving average of $876.15 and a 200-day simple moving average of $817.92. argenex SE has a 1 year low of $631.47 and a 1 year high of $953.58.

argenex (NASDAQ:ARGX) last released its earnings results on Tuesday, July 21st. The company reported $7.32 earnings per share for the quarter, beating the consensus estimate of $5.86 by $1.46. argenex had a return on equity of 43.59% and a net margin of 32.19%.The firm had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.45 billion. As a group, analysts expect that argenex SE will post 28.05 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Guggenheim increased their target price on argenex from $1,135.00 to $1,185.00 and gave the company a “buy” rating in a research report on Friday, July 24th. HC Wainwright restated a “buy” rating and issued a $940.00 price target on shares of argenex in a research report on Thursday, June 25th. Morgan Stanley upped their price target on shares of argenex from $1,170.00 to $1,180.00 and gave the company an “overweight” rating in a research note on Wednesday, June 24th. Weiss Ratings lowered shares of argenex from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, July 23rd. Finally, Wedbush boosted their target price on shares of argenex from $1,000.00 to $1,050.00 and gave the stock an “outperform” rating in a report on Tuesday, July 28th. Two analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $1,056.89.

About argenex

argenx (NASDAQ: ARGX) is a biotechnology company focused on the discovery, development and commercialization of antibody-based therapeutics for severe autoimmune and neuromuscular diseases. The company uses its proprietary SIMPLE Antibody platform to generate differentiated antibodies and engineered Fc regions, and it pursues mechanisms that modulate the neonatal Fc receptor (FcRn) to reduce pathogenic IgG levels. Argenx’s research and development activities span target identification, preclinical development and late-stage clinical programs aimed at addressing unmet needs in immunology.

The company’s lead product, efgartigimod (marketed as Vyvgart), is an FcRn antagonist developed to reduce circulating IgG antibodies and treat IgG-mediated disorders.