Jennison Associates LLC Raises Holdings in argenex SE $ARGX

Jennison Associates LLC lifted its position in argenex SE (NASDAQ:ARGX) by 3.4% during the 1st quarter, HoldingsChannel reports. The firm owned 237,468 shares of the company’s stock after acquiring an additional 7,707 shares during the quarter. Jennison Associates LLC’s holdings in argenex were worth $173,411,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. M&T Bank Corp boosted its stake in argenex by 20,977.7% during the fourth quarter. M&T Bank Corp now owns 778,610 shares of the company’s stock valued at $654,772,000 after buying an additional 774,916 shares during the last quarter. Wellington Management Group LLP increased its stake in argenex by 80.1% in the 3rd quarter. Wellington Management Group LLP now owns 729,986 shares of the company’s stock worth $538,408,000 after acquiring an additional 324,653 shares during the last quarter. Morgan Stanley raised its holdings in shares of argenex by 19.2% during the 4th quarter. Morgan Stanley now owns 518,852 shares of the company’s stock worth $436,331,000 after acquiring an additional 83,746 shares in the last quarter. Invesco Ltd. raised its holdings in shares of argenex by 390.4% during the 4th quarter. Invesco Ltd. now owns 416,408 shares of the company’s stock worth $350,178,000 after acquiring an additional 331,489 shares in the last quarter. Finally, Sands Capital Management LLC raised its holdings in shares of argenex by 2,046.6% during the 4th quarter. Sands Capital Management LLC now owns 356,870 shares of the company’s stock worth $300,110,000 after acquiring an additional 340,245 shares in the last quarter. 60.32% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Morgan Stanley raised their target price on shares of argenex from $1,170.00 to $1,180.00 and gave the company an “overweight” rating in a report on Wednesday, June 24th. Bank of America upped their price target on shares of argenex from $1,016.00 to $1,088.00 and gave the company a “buy” rating in a research note on Thursday, July 2nd. Guggenheim increased their price objective on shares of argenex from $1,120.00 to $1,135.00 and gave the company a “buy” rating in a research report on Friday, May 8th. Weiss Ratings upgraded shares of argenex from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, July 6th. Finally, Glj Research raised shares of argenex to a “strong-buy” rating in a report on Friday, April 3rd. Two research 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’s stock. According to data from MarketBeat.com, argenex has a consensus rating of “Moderate Buy” and a consensus target price of $1,037.61.

argenex Stock Up 0.3%

Shares of ARGX opened at $860.55 on Friday. The company has a market cap of $53.52 billion, a PE ratio of 38.31, a P/E/G ratio of 1.06 and a beta of 0.45. The business has a fifty day moving average of $860.97 and a 200 day moving average of $813.59. argenex SE has a 52-week low of $560.91 and a 52-week high of $953.58.

argenex (NASDAQ:ARGX) last posted its quarterly earnings data on Tuesday, March 31st. The company reported $5.52 earnings per share for the quarter. argenex had a net margin of 31.31% and a return on equity of 44.37%. The business had revenue of $1.31 billion for the quarter. As a group, research analysts anticipate that argenex SE will post 26.27 earnings per share for the current fiscal year.

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.