Jennison Associates LLC Acquires 7,707 Shares of argenex SE $ARGX

Jennison Associates LLC raised its holdings in shares of argenex SE (NASDAQ:ARGX) by 3.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 237,468 shares of the company’s stock after acquiring an additional 7,707 shares during the quarter. Jennison Associates LLC owned approximately 0.38% of argenex worth $173,411,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. Abound Wealth Management raised its holdings in argenex by 3,200.0% in the 4th quarter. Abound Wealth Management now owns 33 shares of the company’s stock worth $28,000 after purchasing an additional 32 shares during the period. Sound Income Strategies LLC bought a new stake in argenex during the fourth quarter valued at about $28,000. Whipplewood Advisors LLC bought a new stake in argenex during the first quarter valued at about $28,000. Sunbelt Securities Inc. purchased a new stake in argenex in the third quarter worth about $36,000. Finally, Aventura Private Wealth LLC purchased a new stake in argenex in the fourth quarter worth about $38,000. Institutional investors own 60.32% of the company’s stock.

argenex Stock Up 0.3%

NASDAQ ARGX opened at $860.55 on Friday. The firm has a market cap of $53.52 billion, a price-to-earnings ratio of 38.31, a price-to-earnings-growth ratio of 1.06 and a beta of 0.45. The business has a 50-day moving average price of $860.97 and a 200-day moving average price of $813.59. argenex SE has a twelve month low of $560.91 and a twelve month high of $953.58.

argenex (NASDAQ:ARGX) last issued its earnings results on Tuesday, March 31st. The company reported $5.52 earnings per share (EPS) for the quarter. argenex had a return on equity of 44.37% and a net margin of 31.31%.The company had revenue of $1.31 billion for the quarter. Research analysts expect that argenex SE will post 26.27 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Morgan Stanley lifted their price objective on argenex from $1,170.00 to $1,180.00 and gave the company an “overweight” rating in a research report on Wednesday, June 24th. Weiss Ratings raised shares of argenex from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, July 6th. Bank of America raised their target price on shares of argenex from $1,016.00 to $1,088.00 and gave the stock a “buy” rating in a research note on Thursday, July 2nd. Wedbush reaffirmed an “outperform” rating and set a $1,000.00 price target on shares of argenex in a report on Thursday, June 11th. Finally, Royal Bank Of Canada lifted their price target on shares of argenex from $890.00 to $945.00 and gave the company an “outperform” rating in a report on Tuesday, July 7th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, argenex has a consensus rating of “Moderate Buy” and a consensus price target of $1,037.61.

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.