Jennison Associates LLC Reduces Holdings in argenx SE (NASDAQ:ARGX)

Jennison Associates LLC cut its holdings in argenx SE (NASDAQ:ARGX) by 82.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 268,208 shares of the company’s stock after selling 1,243,537 shares during the quarter. Jennison Associates LLC’s holdings in argenx were worth $102,034,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of ARGX. Parkside Financial Bank & Trust acquired a new position in argenx during the 3rd quarter worth $28,000. FNY Investment Advisers LLC bought a new position in shares of argenx in the fourth quarter valued at $38,000. Nkcfo LLC boosted its position in shares of argenx by 22.1% in the 3rd quarter. Nkcfo LLC now owns 116 shares of the company’s stock valued at $57,000 after purchasing an additional 21 shares during the period. CWM LLC increased its position in shares of argenx by 29.4% in the third quarter. CWM LLC now owns 207 shares of the company’s stock worth $102,000 after acquiring an additional 47 shares in the last quarter. Finally, Toronto Dominion Bank raised its stake in argenx by 174.2% during the 3rd quarter. Toronto Dominion Bank now owns 266 shares of the company’s stock valued at $131,000 after purchasing an additional 169 shares during the period. Institutional investors and hedge funds own 60.32% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on ARGX shares. Wells Fargo & Company increased their price target on argenx from $472.00 to $478.00 and gave the company an “overweight” rating in a report on Tuesday, February 20th. JMP Securities reiterated a “market outperform” rating and set a $471.00 price target on shares of argenx in a research note on Friday, March 22nd. Wedbush restated an “outperform” rating and issued a $521.00 price objective on shares of argenx in a research note on Thursday, April 18th. Piper Sandler lifted their target price on shares of argenx from $518.00 to $522.00 and gave the company an “overweight” rating in a research report on Friday, January 26th. Finally, Truist Financial increased their price target on shares of argenx from $370.00 to $440.00 and gave the stock a “buy” rating in a research report on Tuesday, March 5th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, argenx presently has an average rating of “Moderate Buy” and a consensus price target of $528.16.

argenx Stock Up 2.4 %

ARGX opened at $368.75 on Tuesday. The company has a fifty day moving average price of $386.95 and a two-hundred day moving average price of $419.33. argenx SE has a 52 week low of $327.73 and a 52 week high of $550.76.

argenx (NASDAQ:ARGX) last posted its quarterly earnings results on Thursday, February 29th. The company reported ($1.68) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.23) by ($0.45). The company had revenue of $417.84 million during the quarter, compared to the consensus estimate of $378.60 million. argenx had a negative return on equity of 16.97% and a negative net margin of 23.26%. During the same quarter in the prior year, the business earned ($0.70) earnings per share. As a group, research analysts predict that argenx SE will post -2.1 earnings per share for the current fiscal year.

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.