Driehaus Capital Management LLC Has $29.04 Million Stock Holdings in argenex SE $ARGX

Key Points

• Driehaus Capital Management LLC has increased its stake in argenex SE by 3.6%, owning 49,071 shares valued at approximately $29.04 million.
• During the previous quarter, several other institutional investors also adjusted their positions in argenex, contributing to a total of 60.32% institutional ownership of the stock.
• In its recent earnings report, argenex beat expectations with an EPS of $3.74 and revenue of $866.79 million, leading to several analyst upgrades and a consensus buy rating.

Driehaus Capital Management LLC grew its holdings in argenex SE (NASDAQ:ARGX - Free Report) by 3.6% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 49,071 shares of the company's stock after purchasing an additional 1,717 shares during the period. Driehaus Capital Management LLC owned approximately 0.08% of argenex worth $29,043,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of ARGX. Point72 Asset Management L.P. bought a new position in shares of argenex in the 4th quarter valued at $91,013,000. GAMMA Investing LLC increased its stake in shares of argenex by 53,684.9% in the 1st quarter. GAMMA Investing LLC now owns 135,538 shares of the company's stock valued at $802,200,000 after purchasing an additional 135,286 shares during the last quarter. BNP Paribas Financial Markets grew its position in argenex by 1,203.4% during the 1st quarter. BNP Paribas Financial Markets now owns 133,359 shares of the company's stock worth $78,931,000 after acquiring an additional 123,127 shares during the last quarter. Assenagon Asset Management S.A. grew its position in argenex by 215.8% during the 1st quarter. Assenagon Asset Management S.A. now owns 110,390 shares of the company's stock worth $65,336,000 after acquiring an additional 75,435 shares during the last quarter. Finally, Lord Abbett & CO. LLC grew its position in argenex by 33.2% during the 1st quarter. Lord Abbett & CO. LLC now owns 274,700 shares of the company's stock worth $162,585,000 after acquiring an additional 68,498 shares during the last quarter. Institutional investors own 60.32% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on ARGX. Morgan Stanley boosted their price objective on argenex from $700.00 to $766.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Royal Bank Of Canada began coverage on argenex in a research report on Monday, August 25th. They set an "outperform" rating and a $850.00 price objective on the stock. Baird R W upgraded argenex from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 13th. HC Wainwright boosted their price objective on argenex from $720.00 to $774.00 and gave the stock a "buy" rating in a research report on Friday, August 1st. Finally, JMP Securities set a $699.00 price objective on argenex in a research report on Wednesday, May 14th. Two analysts have rated the stock with a Strong Buy rating and twenty-one have issued a Buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $772.84.

argenex Stock Up 1.6%

ARGX traded up $11.65 during midday trading on Thursday, hitting $733.66. 544,073 shares of the company were exchanged, compared to its average volume of 354,959. The firm has a market capitalization of $44.90 billion, a P/E ratio of 37.62, a P/E/G ratio of 0.76 and a beta of 0.41. argenex SE has a 1-year low of $510.05 and a 1-year high of $742.52. The firm's 50 day moving average price is $624.07 and its 200-day moving average price is $601.86.

argenex (NASDAQ:ARGX - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The company reported $3.74 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.84 by $0.90. The company 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, sell-side analysts predict that argenex SE will post 3.13 earnings per share for the current fiscal year.

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.