The Manufacturers Life Insurance Company Raises Stake in argenx SE (NASDAQ:ARGX)

The Manufacturers Life Insurance Company lifted its holdings in argenx SE (NASDAQ:ARGX - Free Report) by 11.1% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 61,586 shares of the company's stock after buying an additional 6,151 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.10% of argenx worth $33,385,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in ARGX. Blue Trust Inc. boosted its position in 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 buying an additional 62 shares during the last quarter. J.Safra Asset Management Corp boosted its holdings in argenx by 590.0% in the second 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 increased its position in argenx by 51.3% in the second quarter. GAMMA Investing LLC now owns 118 shares of the company's stock worth $51,000 after purchasing an additional 40 shares during the period. Point72 Hong Kong Ltd bought a new stake in argenx during the 2nd quarter worth about $76,000. Finally, Cromwell Holdings LLC lifted its position in argenx by 73.3% during the 3rd quarter. Cromwell Holdings LLC now owns 156 shares of the company's stock valued at $85,000 after purchasing an additional 66 shares during the period. Institutional investors and hedge funds own 60.32% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on ARGX. Guggenheim lifted their price target on shares of argenx from $585.00 to $665.00 and gave the stock a "buy" rating in a research report on Friday, November 1st. Oppenheimer reaffirmed an "outperform" rating and set a $675.00 target price (up previously from $646.00) on shares of argenx in a report on Thursday, November 21st. Baird R W downgraded argenx from a "strong-buy" rating to a "hold" rating in a research note on Friday, November 1st. Truist Financial raised their price target on argenx from $540.00 to $660.00 and gave the stock a "buy" rating in a research report on Thursday, October 31st. Finally, JPMorgan Chase & Co. upped their price objective on argenx from $640.00 to $670.00 and gave the company an "overweight" rating in a report on Monday, November 4th. Three research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $630.42.

argenx Price Performance

ARGX stock traded up $1.96 during trading hours on Friday, reaching $616.55. 190,007 shares of the stock were exchanged, compared to its average volume of 310,467. The firm's 50-day moving average is $565.73 and its 200-day moving average is $496.24. argenx SE has a 12 month low of $327.73 and a 12 month high of $620.28. The company has a market cap of $37.22 billion, a price-to-earnings ratio of -700.63 and a beta of 0.61.

argenx (NASDAQ:ARGX - Get Free Report) last posted its quarterly earnings data on Thursday, October 31st. The company reported $1.39 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.10 by $1.29. The firm had revenue of $588.88 million for the quarter, compared to the consensus estimate of $543.29 million. argenx had a negative net margin of 2.11% and a negative return on equity of 1.45%. During the same period in the previous year, the firm earned ($1.25) EPS. As a group, equities research analysts forecast that argenx SE will post 2.2 earnings per share for the current year.

About argenx

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.