Millennium Management LLC Purchases 204,180 Shares of argenex SE $ARGX

Key Points

• Millennium Management LLC increased its stake in argenex SE by 316.9% in Q1, acquiring an additional 204,180 shares and owning about $158.98 million worth of shares at quarter end.
• Equities analysts have raised their price targets for argenex, with Guggenheim setting a target of $1,070 and Bank of America adjusting theirs to $887, reflecting positive sentiment about the company's performance.
• argenex reported a quarterly earnings per share of $3.74, surpassing expectations and achieving a net margin of 40.98% while forecasting an EPS of 3.13 for the current fiscal year.

Millennium Management LLC grew its position in argenex SE (NASDAQ:ARGX - Free Report) by 316.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 268,604 shares of the company's stock after acquiring an additional 204,180 shares during the period. Millennium Management LLC owned about 0.44% of argenex worth $158,977,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of ARGX. Eventide Asset Management LLC boosted its holdings in shares of argenex by 9.2% during the 1st quarter. Eventide Asset Management LLC now owns 113,743 shares of the company's stock worth $67,319,000 after buying an additional 9,599 shares during the period. Checkpoint Capital L.P. boosted its holdings in shares of argenex by 24.3% during the 1st quarter. Checkpoint Capital L.P. now owns 115,000 shares of the company's stock worth $68,064,000 after buying an additional 22,500 shares during the period. Banque Transatlantique SA bought a new stake in shares of argenex during the 1st quarter worth about $62,000. AQR Capital Management LLC boosted its holdings in shares of argenex by 32.1% during the 1st quarter. AQR Capital Management LLC now owns 502 shares of the company's stock worth $297,000 after buying an additional 122 shares during the period. Finally, Advisors Asset Management Inc. boosted its holdings in shares of argenex by 6.2% during the 1st quarter. Advisors Asset Management Inc. now owns 1,201 shares of the company's stock worth $711,000 after buying an additional 70 shares during the period. Institutional investors own 60.32% of the company's stock.

argenex Trading Up 2.3%

ARGX traded up $17.12 during trading on Friday, reaching $750.78. 485,995 shares of the company's stock were exchanged, compared to its average volume of 375,600. argenex SE has a one year low of $510.05 and a one year high of $754.00. The stock has a market capitalization of $45.95 billion, a PE ratio of 38.50, a price-to-earnings-growth ratio of 0.80 and a beta of 0.41. The firm has a fifty day moving average price of $627.89 and a two-hundred day moving average price of $602.06.

argenex (NASDAQ:ARGX - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The company reported $3.74 EPS for the quarter, beating analysts' consensus estimates of $2.84 by $0.90. argenex had a net margin of 40.98% and a return on equity of 21.06%. The company had revenue of $866.79 million for the quarter, compared to analyst estimates of $776.82 million. Sell-side analysts expect that argenex SE will post 3.13 earnings per share for the current year.

Wall Street Analyst Weigh In

ARGX has been the subject of several research analyst reports. Bank of America lifted their target price on shares of argenex from $880.00 to $887.00 and gave the stock a "buy" rating in a report on Tuesday, September 2nd. Royal Bank Of Canada assumed coverage on shares of argenex in a research report on Monday, August 25th. They issued an "outperform" rating and a $850.00 target price for the company. Morgan Stanley boosted their target price on shares of argenex from $700.00 to $766.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Wedbush restated an "outperform" rating and issued a $800.00 target price on shares of argenex in a research report on Monday, August 25th. Finally, Citigroup restated a "buy" rating on shares of argenex in a research report on Wednesday, May 21st. Two investment analysts have rated the stock with a Strong Buy rating and twenty-one have assigned a Buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $772.84.

About argenex

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.