Nomura Asset Management Co. Ltd. Lowers Holdings in argenx SE (NASDAQ:ARGX)

Nomura Asset Management Co. Ltd. reduced its stake in shares of argenx SE (NASDAQ:ARGX) by 32.6% in the 4th quarter, Holdings Channel reports. The fund owned 4,653 shares of the company’s stock after selling 2,254 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in argenx were worth $2,862,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently bought and sold shares of the stock. Lord Abbett & CO. LLC purchased a new stake in shares of argenx during the 3rd quarter worth about $88,339,000. Allspring Global Investments Holdings LLC boosted its position in argenx by 38,152.3% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 144,211 shares of the company’s stock worth $89,391,000 after purchasing an additional 143,834 shares in the last quarter. Raymond James Financial Inc. purchased a new position in argenx during the fourth quarter worth approximately $43,543,000. Jennison Associates LLC grew its holdings in argenx by 27.0% in the fourth quarter. Jennison Associates LLC now owns 302,149 shares of the company’s stock valued at $185,821,000 after purchasing an additional 64,183 shares during the period. Finally, Wellington Management Group LLP increased its position in shares of argenx by 13.0% in the third quarter. Wellington Management Group LLP now owns 482,346 shares of the company’s stock valued at $261,470,000 after buying an additional 55,617 shares in the last quarter. 60.32% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on ARGX shares. Robert W. Baird lifted their price target on shares of argenx from $650.00 to $680.00 and gave the company a “neutral” rating in a research note on Tuesday, March 4th. Truist Financial reiterated a “buy” rating and issued a $700.00 target price (up previously from $660.00) on shares of argenx in a research report on Tuesday, January 14th. William Blair restated an “outperform” rating on shares of argenx in a research report on Friday, February 28th. Piper Sandler lifted their price objective on argenx from $620.00 to $725.00 and gave the stock an “overweight” rating in a report on Tuesday, January 7th. Finally, Citigroup reissued an “outperform” rating on shares of argenx in a report on Friday, February 28th. Three equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $687.00.

argenx Price Performance

Shares of NASDAQ ARGX opened at $583.62 on Thursday. The stock has a fifty day moving average price of $624.55 and a 200 day moving average price of $602.58. argenx SE has a 1-year low of $352.77 and a 1-year high of $678.21. The company has a market cap of $35.46 billion, a PE ratio of -663.20 and a beta of 0.60.

argenx (NASDAQ:ARGX) last released its earnings results on Thursday, February 27th. The company reported $1.58 EPS for the quarter, topping the consensus estimate of $0.98 by $0.60. argenx had a negative net margin of 2.11% and a negative return on equity of 1.45%. The company had revenue of $761.22 million during the quarter, compared to analysts’ expectations of $678.52 million. Analysts anticipate that argenx SE will post 3.13 earnings per share for the current fiscal year.

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.