argenx SE (NASDAQ:ARGX) Stock Position Reduced by Van ECK Associates Corp

Van ECK Associates Corp decreased its stake in argenx SE (NASDAQ:ARGX) by 24.8% during the 3rd quarter, HoldingsChannel reports. The firm owned 38,241 shares of the company’s stock after selling 12,580 shares during the period. Van ECK Associates Corp’s holdings in argenx were worth $21,335,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in ARGX. Central Pacific Bank Trust Division bought a new stake in shares of argenx in the 1st quarter worth approximately $313,000. Mediolanum International Funds Ltd bought a new stake in shares of argenx in the 1st quarter worth approximately $4,570,000. Envestnet Portfolio Solutions Inc. lifted its holdings in shares of argenx by 21.5% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 1,300 shares of the company’s stock worth $512,000 after purchasing an additional 230 shares during the last quarter. Oppenheimer Asset Management Inc. lifted its holdings in shares of argenx by 5.5% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 2,916 shares of the company’s stock worth $1,148,000 after purchasing an additional 152 shares during the last quarter. Finally, Headlands Technologies LLC acquired a new stake in argenx in the 1st quarter valued at approximately $397,000. Institutional investors own 60.32% of the company’s stock.

argenx Stock Performance

argenx stock opened at $588.67 on Tuesday. The business’s 50-day simple moving average is $539.46 and its 200-day simple moving average is $467.19. The firm has a market capitalization of $35.20 billion, a PE ratio of -668.94 and a beta of 0.61. argenx SE has a 52 week low of $327.73 and a 52 week high of $610.73.

argenx (NASDAQ:ARGX) last issued its quarterly earnings results on Thursday, October 31st. The company reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $1.29. The firm had revenue of $588.88 million for the quarter, compared to analyst estimates of $543.29 million. argenx had a negative return on equity of 0.96% and a negative net margin of 2.11%. During the same period in the previous year, the company posted ($1.25) earnings per share. Research analysts forecast that argenx SE will post -0.36 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms recently commented on ARGX. Wells Fargo & Company raised their target price on argenx from $547.00 to $639.00 and gave the company an “overweight” rating in a research report on Friday. Evercore ISI lifted their price target on argenx from $478.00 to $533.00 and gave the company an “outperform” rating in a research report on Friday, July 12th. JMP Securities lifted their price target on argenx from $497.00 to $606.00 and gave the company a “market outperform” rating in a research report on Friday. Barclays raised argenx from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, August 6th. Finally, Guggenheim raised their target price on argenx from $585.00 to $665.00 and gave the stock a “buy” rating in a research report on Friday. Five analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, argenx has a consensus rating of “Moderate Buy” and an average price target of $598.44.

argenx Profile

argenx SE, a biotechnology company, engages in the developing of various therapies for the treatment of autoimmune diseases in the United States, Japan, Europe, Middle East, Africa, and China. Its lead product candidate is efgartigimod for the treatment of patients with myasthenia gravis, immune thrombocytopenia, pemphigus vulgaris, generalized myasthenia gravis, chronic inflammatory demyelinating polyneuropathy, thyroid eye disease, bullous pemphigoid, myositis, primary sjögren’s syndrome, post-covid postural orthostatic tachycardia syndrome, membranous nephropathy, lupus nephropathy, anca-associated vasculitis, and antibody mediated rejection; ENHANZE SC; Empasiprubart for multifocal motor neuropath, delayed graft function, and dermatomyositis; and ARGX-119 for congenital myasthenic syndrome and amyotrophic lateral sclerosis.