Pictet Asset Management Holding SA Sells 24,888 Shares of argenex SE $ARGX

Pictet Asset Management Holding SA reduced its stake in shares of argenex SE (NASDAQ:ARGX) by 12.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 173,394 shares of the company’s stock after selling 24,888 shares during the quarter. Pictet Asset Management Holding SA’s holdings in argenex were worth $166,375,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Whipplewood Advisors LLC acquired a new stake in shares of argenex in the first quarter valued at approximately $28,000. Eastern Bank bought a new position in argenex in the 2nd quarter worth approximately $32,000. Axiom Investment Management LLC acquired a new position in argenex during the 1st quarter worth $50,000. Richardson Financial Services Inc. acquired a new position in argenex during the 3rd quarter worth $66,000. Finally, Mather Group LLC. lifted its holdings in argenex by 19.1% during the 3rd quarter. Mather Group LLC. now owns 81 shares of the company’s stock worth $78,000 after buying an additional 13 shares in the last quarter. 60.32% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have commented on ARGX shares. Wedbush decreased their price objective on argenex from $1,150.00 to $1,130.00 and set an “outperform” rating on the stock in a research report on Thursday, October 8th. Citigroup dropped their target price on argenex from $1,301.00 to $1,232.00 and set a “buy” rating for the company in a research report on Tuesday, October 27th. Royal Bank Of Canada cut their price target on argenex from $1,100.00 to $1,025.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 20th. Oppenheimer cut their price target on argenex from $1,100.00 to $1,038.00 and set an “outperform” rating on the stock in a research note on Monday, October 12th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “neutral” rating on shares of argenex in a report on Friday, October 9th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, argenex presently has an average rating of “Moderate Buy” and an average price target of $1,158.76.

argenex Stock Performance

Shares of NASDAQ ARGX opened at $927.21 on Monday. The stock has a market cap of $58.31 billion, a P/E ratio of 32.35, a P/E/G ratio of 0.86 and a beta of 0.48. The firm has a 50 day moving average price of $930.66 and a 200 day moving average price of $857.30. argenex SE has a 52-week low of $661.85 and a 52-week high of $1,072.75.

argenex (NASDAQ:ARGX) last issued its earnings results on Friday, October 23rd. The company reported $7.80 EPS for the quarter, beating the consensus estimate of $7.44 by $0.36. The firm had revenue of $1.75 billion during the quarter. argenex had a net margin of 31.66% and a return on equity of 47.70%. Analysts predict that argenex SE will post 28.41 earnings per share for the current fiscal year.

argenex Profile

argenx SE is a global immunology company focused on developing medicines for autoimmune diseases. Founded in 2008 and headquartered in the Netherlands, the company uses antibody engineering and other research approaches to identify and develop treatments for conditions with significant unmet medical needs.

Its lead medicine is efgartigimod, marketed as Vyvgart and Vyvgart Hytrulo. These products target the neonatal Fc receptor (FcRn) and are approved in the United States for certain patients with generalized myasthenia gravis; Vyvgart Hytrulo is also approved for chronic inflammatory demyelinating polyneuropathy.