Baker BROS. Advisors LP Has $46.02 Million Stock Position in argenex SE $ARGX

Key Points

• Baker BROS. Advisors LP has reduced its stake in argenex SE by 30.5%, selling 34,144 shares, which now makes up 0.6% of its overall portfolio.
• The company reported an EPS of $3.74 for the last quarter, exceeding analyst expectations of $2.84, while revenue reached $866.79 million.
• Wall Street analysts are optimistic, with a majority rating the stock as a Buy and an average target price of $766.50.

Baker BROS. Advisors LP trimmed its position in shares of argenex SE (NASDAQ:ARGX - Free Report) by 30.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 77,760 shares of the company's stock after selling 34,144 shares during the period. argenex makes up approximately 0.6% of Baker BROS. Advisors LP's holdings, making the stock its 22nd largest holding. Baker BROS. Advisors LP owned approximately 0.13% of argenex worth $46,023,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Braidwell LP increased its stake in argenex by 99.2% during the first quarter. Braidwell LP now owns 160,849 shares of the company's stock valued at $95,201,000 after acquiring an additional 80,083 shares during the period. Royal Bank of Canada increased its stake in argenex by 0.9% during the first quarter. Royal Bank of Canada now owns 38,306 shares of the company's stock valued at $22,673,000 after acquiring an additional 353 shares during the period. OLD Mission Capital LLC bought a new position in argenex during the first quarter valued at about $8,864,000. Vident Advisory LLC increased its stake in argenex by 24.7% during the first quarter. Vident Advisory LLC now owns 1,110 shares of the company's stock valued at $657,000 after acquiring an additional 220 shares during the period. Finally, Driehaus Capital Management LLC increased its stake in argenex by 3.6% during the first quarter. Driehaus Capital Management LLC now owns 49,071 shares of the company's stock valued at $29,043,000 after acquiring an additional 1,717 shares during the period. 60.32% of the stock is currently owned by institutional investors.

argenex Price Performance

Shares of ARGX traded up $17.12 on Friday, hitting $750.78. The company's stock had a trading volume of 485,995 shares, compared to its average volume of 375,600. The company has a market capitalization of $45.95 billion, a PE ratio of 38.50, a PEG ratio of 0.80 and a beta of 0.41. argenex SE has a fifty-two week low of $510.05 and a fifty-two week high of $754.00. The company has a 50 day moving average price of $627.89 and a 200 day moving average price of $602.06.

argenex (NASDAQ:ARGX - Get Free Report) last announced its earnings results on Thursday, July 31st. The company reported $3.74 EPS for the quarter, topping the consensus estimate of $2.84 by $0.90. The business had revenue of $866.79 million for the quarter, compared to the consensus estimate of $776.82 million. argenex had a return on equity of 21.06% and a net margin of 40.98%. On average, equities analysts forecast that argenex SE will post 3.13 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Citigroup restated a "buy" rating on shares of argenex in a research note on Wednesday, May 21st. JPMorgan Chase & Co. upped their price objective on argenex from $775.00 to $830.00 and gave the company an "overweight" rating in a research note on Monday, August 4th. Guggenheim upped their price objective on argenex from $1,060.00 to $1,070.00 and gave the company a "buy" rating in a research note on Friday, August 1st. HC Wainwright upped their price objective on argenex from $720.00 to $774.00 and gave the company a "buy" rating in a research note on Friday, August 1st. Finally, Wells Fargo & Company upped their price objective on argenex from $741.00 to $756.00 and gave the company an "overweight" rating in a research note on Thursday, July 31st. Two research 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 data from MarketBeat.com, the company presently has an average 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.