Wellington Management Group LLP Has $240.42 Million Stake in argenex SE $ARGX

Key Points

• Wellington Management Group LLP reduced its stake in argenex SE by 4.4%, owning 406,204 shares valued at approximately $240.42 million as of the latest SEC filing.
• JPMorgan Chase & Co. and other analysts have increased their target prices for argenex, with JPMorgan raising its target from $775.00 to $830.00 and giving a rating of "overweight."
• argenex reported strong earnings with an EPS of $3.74 for the last quarter, surpassing analysts' expectations of $2.84, and generated revenues of $866.79 million.

Wellington Management Group LLP decreased its stake in argenex SE (NASDAQ:ARGX - Free Report) by 4.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 406,204 shares of the company's stock after selling 18,770 shares during the quarter. Wellington Management Group LLP owned 0.67% of argenex worth $240,418,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the stock. GeoWealth Management LLC lifted its holdings in argenex by 56.3% during the fourth quarter. GeoWealth Management LLC now owns 50 shares of the company's stock worth $31,000 after acquiring an additional 18 shares in the last quarter. Rakuten Securities Inc. lifted its holdings in argenex by 56.4% during the first quarter. Rakuten Securities Inc. now owns 61 shares of the company's stock worth $36,000 after acquiring an additional 22 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in argenex during the fourth quarter worth about $38,000. Golden State Wealth Management LLC bought a new position in argenex during the first quarter worth about $44,000. Finally, Brooklyn Investment Group lifted its holdings in argenex by 102.7% during the first quarter. Brooklyn Investment Group now owns 75 shares of the company's stock worth $44,000 after acquiring an additional 38 shares in the last quarter. Institutional investors and hedge funds own 60.32% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on ARGX shares. JPMorgan Chase & Co. lifted their target price on argenex from $775.00 to $830.00 and gave the stock an "overweight" rating in a report on Monday, August 4th. HC Wainwright lifted their target price on argenex from $720.00 to $774.00 and gave the stock a "buy" rating in a report on Friday, August 1st. Guggenheim lifted their target price on argenex from $1,060.00 to $1,070.00 and gave the stock a "buy" rating in a report on Friday, August 1st. Wedbush reaffirmed an "outperform" rating and issued a $715.00 target price on shares of argenex in a research note on Monday, July 21st. Finally, Wells Fargo & Company upped their target price on shares of argenex from $741.00 to $756.00 and gave the stock an "overweight" rating in a research note on Thursday, July 31st. Two analysts have rated the stock with a Strong Buy rating and eighteen have assigned a Buy rating to the company. According to data from MarketBeat.com, argenex presently has a consensus rating of "Buy" and an average target price of $746.81.

argenex Trading Down 0.7%

argenex stock opened at $656.89 on Wednesday. The company has a market cap of $40.20 billion, a P/E ratio of 33.69, a price-to-earnings-growth ratio of 0.76 and a beta of 0.39. argenex SE has a 1-year low of $510.05 and a 1-year high of $696.21. The company has a fifty day simple moving average of $590.28 and a 200 day simple moving average of $597.56.

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

argenex 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.

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