Jennison Associates LLC Has $147.65 Million Stock Position in argenex SE (NASDAQ:ARGX)

Jennison Associates LLC lowered its holdings in argenex SE (NASDAQ:ARGX - Free Report) by 17.4% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 249,461 shares of the company's stock after selling 52,688 shares during the quarter. Jennison Associates LLC owned 0.41% of argenex worth $147,647,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of ARGX. GeoWealth Management LLC raised its stake in shares of argenex by 56.3% during the 4th quarter. GeoWealth Management LLC now owns 50 shares of the company's stock worth $31,000 after buying an additional 18 shares during the last quarter. Rakuten Securities Inc. raised its stake in shares of argenex by 56.4% during the 1st quarter. Rakuten Securities Inc. now owns 61 shares of the company's stock worth $36,000 after buying an additional 22 shares during the last quarter. FIL Ltd acquired a new position in shares of argenex during the 4th quarter worth $38,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of argenex during the 4th quarter worth $38,000. Finally, Golden State Wealth Management LLC acquired a new position in shares of argenex during the 1st quarter worth $44,000. Institutional investors and hedge funds own 60.32% of the company's stock.

argenex Trading Down 1.4%

ARGX stock traded down $8.12 during trading hours on Friday, hitting $564.59. 336,884 shares of the stock traded hands, compared to its average volume of 331,501. argenex SE has a one year low of $457.42 and a one year high of $678.21. The company has a market cap of $34.55 billion, a P/E ratio of 34.83, a P/E/G ratio of 0.98 and a beta of 0.37. The stock has a 50-day simple moving average of $563.91 and a 200 day simple moving average of $599.91.

argenex (NASDAQ:ARGX - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported $2.58 earnings per share for the quarter, beating analysts' consensus estimates of $2.32 by $0.26. The business had revenue of $1.35 billion during the quarter, compared to analyst estimates of $748.34 million. argenex had a return on equity of 16.15% and a net margin of 40.20%. Analysts forecast that argenex SE will post 3.13 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on ARGX shares. Oppenheimer boosted their target price on shares of argenex from $704.00 to $708.00 and gave the company an "outperform" rating in a research note on Friday, May 9th. Robert W. Baird upgraded argenex from a "neutral" rating to an "outperform" rating and set a $680.00 price target for the company in a report on Tuesday, May 13th. Baird R W upgraded argenex from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 13th. Citigroup restated a "buy" rating on shares of argenex in a report on Wednesday, May 21st. Finally, JMP Securities set a $699.00 target price on argenex in a research note on Wednesday, May 14th. Nineteen analysts have rated the stock with a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, argenex currently has a consensus rating of "Buy" and a consensus price target of $728.06.

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.