Sectoral Asset Management Inc. Lowers Holdings in argenex SE $ARGX

Sectoral Asset Management Inc. decreased its stake in argenex SE (NASDAQ:ARGX) by 25.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,894 shares of the company’s stock after selling 996 shares during the quarter. argenex makes up 1.9% of Sectoral Asset Management Inc.’s holdings, making the stock its 15th largest position. Sectoral Asset Management Inc.’s holdings in argenex were worth $2,434,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. boosted its position in argenex by 91.5% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,828 shares of the company’s stock worth $6,511,000 after purchasing an additional 4,217 shares in the last quarter. American Century Companies Inc. boosted its position in argenex by 11.6% during the third quarter. American Century Companies Inc. now owns 229,770 shares of the company’s stock worth $169,474,000 after purchasing an additional 23,864 shares in the last quarter. Allianz Asset Management GmbH boosted its position in argenex by 21.3% during the third quarter. Allianz Asset Management GmbH now owns 3,671 shares of the company’s stock worth $2,708,000 after purchasing an additional 645 shares in the last quarter. US Bancorp DE boosted its position in argenex by 37.2% during the third quarter. US Bancorp DE now owns 7,073 shares of the company’s stock worth $5,217,000 after purchasing an additional 1,919 shares in the last quarter. Finally, Alta Wealth Advisors LLC purchased a new position in argenex during the third quarter worth approximately $623,000. Hedge funds and other institutional investors own 60.32% of the company’s stock.

argenex Stock Performance

NASDAQ:ARGX opened at $806.46 on Monday. argenex SE has a one year low of $510.05 and a one year high of $934.62. The stock has a market cap of $49.90 billion, a PE ratio of 35.91, a P/E/G ratio of 1.28 and a beta of 0.46. The stock has a 50 day moving average price of $767.17 and a 200 day moving average price of $815.79.

argenex (NASDAQ:ARGX) last posted its quarterly earnings results on Tuesday, March 31st. The company reported $5.52 EPS for the quarter. argenex had a return on equity of 33.28% and a net margin of 31.31%.The firm had revenue of $1.31 billion during the quarter. As a group, analysts predict that argenex SE will post 25.27 earnings per share for the current fiscal year.

Analysts Set New Price Targets

ARGX has been the topic of a number of recent analyst reports. Robert W. Baird increased their price target on argenex from $858.00 to $867.00 and gave the stock a “neutral” rating in a research report on Friday, February 27th. Deutsche Bank Aktiengesellschaft upgraded argenex from a “hold” rating to a “buy” rating in a research report on Tuesday, March 10th. Oppenheimer lowered their price target on argenex from $1,060.00 to $1,014.00 and set an “outperform” rating on the stock in a research report on Thursday, April 2nd. Royal Bank Of Canada lowered their price target on argenex from $925.00 to $890.00 and set an “outperform” rating on the stock in a research report on Friday, February 27th. Finally, Wells Fargo & Company increased their target price on argenex from $1,247.00 to $1,260.00 and gave the company an “overweight” rating in a report on Friday, May 8th. Two analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $1,017.78.

argenex Company Profile

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.