Jennison Associates LLC Has $129 Million Stock Position in argenx SE (NASDAQ:ARGX)

Jennison Associates LLC grew its stake in argenx SE (NASDAQ:ARGX) by 0.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 237,966 shares of the company’s stock after buying an additional 1,528 shares during the period. Jennison Associates LLC owned approximately 0.40% of argenx worth $128,997,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in ARGX. Blue Trust Inc. grew its stake in shares of argenx by 620.0% in the 2nd quarter. Blue Trust Inc. now owns 72 shares of the company’s stock valued at $28,000 after purchasing an additional 62 shares during the period. J.Safra Asset Management Corp raised its position in shares of argenx by 590.0% during the 2nd quarter. J.Safra Asset Management Corp now owns 69 shares of the company’s stock valued at $30,000 after acquiring an additional 59 shares during the last quarter. GAMMA Investing LLC boosted its stake in argenx by 51.3% during the 2nd quarter. GAMMA Investing LLC now owns 118 shares of the company’s stock worth $51,000 after acquiring an additional 40 shares during the last quarter. Point72 Hong Kong Ltd bought a new position in argenx during the 2nd quarter worth approximately $76,000. Finally, Cromwell Holdings LLC boosted its stake in argenx by 73.3% during the 3rd quarter. Cromwell Holdings LLC now owns 156 shares of the company’s stock worth $85,000 after acquiring an additional 66 shares during the last quarter. Institutional investors and hedge funds own 60.32% of the company’s stock.

argenx Stock Performance

Shares of argenx stock opened at $574.54 on Wednesday. argenx SE has a fifty-two week low of $327.73 and a fifty-two week high of $611.22. The stock has a 50 day moving average of $553.99 and a 200 day moving average of $485.19. The firm has a market capitalization of $34.36 billion, a price-to-earnings ratio of -652.89 and a beta of 0.61.

argenx (NASDAQ:ARGX) last posted its quarterly earnings results on Thursday, October 31st. The company reported $1.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.10 by $1.29. argenx had a negative return on equity of 1.45% and a negative net margin of 2.11%. The company had revenue of $588.88 million for the quarter, compared to analysts’ expectations of $543.29 million. During the same period last year, the firm earned ($1.25) earnings per share. Analysts forecast that argenx SE will post 2.2 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on ARGX. Baird R W lowered shares of argenx from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 1st. Raymond James restated a “strong-buy” rating and set a $605.00 target price on shares of argenx in a report on Thursday, October 10th. Truist Financial upped their price objective on shares of argenx from $540.00 to $660.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Wells Fargo & Company boosted their target price on shares of argenx from $547.00 to $639.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. Finally, Citigroup upped their price objective on shares of argenx from $512.00 to $635.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Three analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, argenx presently has a consensus rating of “Moderate Buy” and a consensus target price of $619.79.

argenx 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.