Adage Capital Partners GP L.L.C. Purchases 48,850 Shares of argenex SE $ARGX

Key Points

• Adage Capital Partners GP L.L.C. increased its stake in argenex SE by 54.4%, owning 138,637 shares valued at approximately $82 million as of the most recent reporting period.
• Institutional investors now hold 60.32% of argenex's stock, with multiple firms significantly increasing their positions during the first quarter.
• Wall Street analysts are optimistic about argenex, with a consensus rating of "Buy" and an average price target of $772.84 for the company's shares.

Adage Capital Partners GP L.L.C. grew its position in shares of argenex SE (NASDAQ:ARGX - Free Report) by 54.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 138,637 shares of the company's stock after buying an additional 48,850 shares during the quarter. Adage Capital Partners GP L.L.C. owned approximately 0.23% of argenex worth $82,054,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. ADAR1 Capital Management LLC acquired a new position in argenex in the first quarter valued at approximately $355,000. Federation des caisses Desjardins du Quebec lifted its stake in shares of argenex by 105.6% during the 1st quarter. Federation des caisses Desjardins du Quebec now owns 2,921 shares of the company's stock worth $1,729,000 after buying an additional 1,500 shares during the last quarter. Braidwell LP lifted its stake in shares of argenex by 99.2% during the 1st quarter. Braidwell LP now owns 160,849 shares of the company's stock worth $95,201,000 after buying an additional 80,083 shares during the last quarter. Royal Bank of Canada raised its stake in argenex by 0.9% in the 1st quarter. Royal Bank of Canada now owns 38,306 shares of the company's stock worth $22,673,000 after purchasing an additional 353 shares in the last quarter. Finally, OLD Mission Capital LLC acquired a new position in shares of argenex in the 1st quarter valued at approximately $8,864,000. 60.32% of the stock is owned by institutional investors.

argenex Trading Up 1.4%

argenex stock traded up $10.75 on Monday, hitting $761.53. 129,132 shares of the stock traded hands, compared to its average volume of 375,761. The business's fifty day simple moving average is $627.89 and its 200 day simple moving average is $602.06. The firm has a market cap of $46.61 billion, a P/E ratio of 39.05, a price-to-earnings-growth ratio of 0.80 and a beta of 0.41. argenex SE has a 1 year low of $510.05 and a 1 year high of $763.37.

argenex (NASDAQ:ARGX - Get Free Report) last issued its earnings results on Thursday, July 31st. The company reported $3.74 earnings per share for the quarter, topping analysts' consensus estimates of $2.84 by $0.90. The business had revenue of $866.79 million during the quarter, compared to analyst estimates of $776.82 million. argenex had a return on equity of 21.06% and a net margin of 40.98%. As a group, analysts predict that argenex SE will post 3.13 earnings per share for the current year.

Analyst Ratings Changes

ARGX has been the topic of a number of research reports. Jefferies Financial Group set a $818.00 target price on shares of argenex and gave the stock a "buy" rating in a report on Tuesday, August 26th. HC Wainwright boosted their target price on shares of argenex from $720.00 to $774.00 and gave the company a "buy" rating in a research report on Friday, August 1st. JMP Securities set a $699.00 target price on shares of argenex in a research report on Wednesday, May 14th. JPMorgan Chase & Co. upped their price objective on shares of argenex from $775.00 to $830.00 and gave the stock an "overweight" rating in a report on Monday, August 4th. Finally, Robert W. Baird upgraded shares of argenex from a "neutral" rating to an "outperform" rating and set a $680.00 target price for the company in a research note on Tuesday, May 13th. Two investment analysts have rated the stock with a Strong Buy rating and twenty-one have issued a Buy rating to the company. According to data from MarketBeat.com, argenex currently has an average rating of "Buy" and an average target price of $772.84.

argenex Company 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.