Eventide Asset Management LLC Has $67.32 Million Holdings in argenex SE $ARGX

Key Points

• Eventide Asset Management LLC increased its stake in argenex SE by 9.2% in the first quarter, owning 113,743 shares valued at approximately $67.3 million, making it the 19th largest holding in their portfolio.
• Argenex reported a net margin of 40.98% and revenue of $866.79 million, significantly surpassing analyst estimates, with earnings per share at $3.74 for the last quarter.
• Brokerages are optimistic, with 21 analysts rating the stock as a Buy and their target price averaging around $772.84, reflecting positive market sentiment around argenex's growth potential.

Eventide Asset Management LLC increased its holdings in shares of argenex SE (NASDAQ:ARGX - Free Report) by 9.2% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 113,743 shares of the company's stock after buying an additional 9,599 shares during the quarter. argenex accounts for about 1.3% of Eventide Asset Management LLC's holdings, making the stock its 19th biggest holding. Eventide Asset Management LLC owned approximately 0.19% of argenex worth $67,319,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. RTW Investments LP lifted its position in shares of argenex by 2.9% during the 4th quarter. RTW Investments LP now owns 673,497 shares of the company's stock worth $414,201,000 after buying an additional 19,067 shares during the last quarter. Lord Abbett & CO. LLC lifted its position in shares of 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 buying an additional 68,498 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of argenex by 22.4% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 176,450 shares of the company's stock worth $100,063,000 after buying an additional 32,239 shares during the last quarter. Braidwell LP lifted its position 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. Finally, Point72 Asset Management L.P. bought a new stake in shares of argenex during the 4th quarter worth $91,013,000. 60.32% of the stock is currently owned by institutional investors.

argenex Trading Down 0.4%

NASDAQ ARGX traded down $2.99 during trading hours on Tuesday, hitting $765.02. 198,920 shares of the company's stock were exchanged, compared to its average volume of 375,986. The stock has a 50-day simple moving average of $632.22 and a 200 day simple moving average of $602.92. argenex SE has a 1-year low of $510.05 and a 1-year high of $769.22. The firm has a market cap of $46.82 billion, a price-to-earnings ratio of 39.23, a PEG ratio of 0.80 and a beta of 0.41.

argenex (NASDAQ:ARGX - Get Free Report) last released 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. argenex had a return on equity of 21.06% and a net margin of 40.98%.The business had revenue of $866.79 million during the quarter, compared to analysts' expectations of $776.82 million. On average, sell-side analysts anticipate that argenex SE will post 3.13 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Wall Street Zen upgraded argenex from a "hold" rating to a "buy" rating in a research report on Saturday. Piper Sandler increased their target price on argenex from $750.00 to $820.00 and gave the company an "overweight" rating in a research report on Tuesday, August 26th. Deutsche Bank Aktiengesellschaft upgraded argenex from a "hold" rating to a "buy" rating in a research report on Tuesday, July 8th. Citigroup reiterated a "buy" rating on shares of argenex in a research report on Wednesday, May 21st. Finally, Royal Bank Of Canada assumed coverage on argenex in a research report on Monday, August 25th. They issued an "outperform" rating and a $850.00 target price for the company. Two research 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, the company 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.