The Manufacturers Life Insurance Company Purchases 3,967 Shares of argenx SE (NASDAQ:ARGX)
The Manufacturers Life Insurance Company increased its stake in argenx SE (NASDAQ:ARGX) by 9.1% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 47,583 shares of the company’s stock after acquiring an additional 3,967 shares during the quarter. The Manufacturers Life Insurance Company owned 0.08% of argenx worth $18,102,000 at the end of the most recent reporting period. Other hedge funds also recently modified their holdings of the company. Parkside Financial Bank & Trust bought a new stake in shares of argenx in the 3rd quarter valued at $28,000. FNY Investment Advisers LLC bought a new stake in shares of argenx in the 4th quarter valued at $38,000. Benjamin F. Edwards & Company Inc. bought a new stake in shares of argenx in the 4th quarter valued at $60,000. Principal Securities Inc. bought a new stake in shares of argenx in the 4th quarter valued at $99,000. Finally, Toronto Dominion Bank increased its stake in shares of argenx by 174.2% in the 3rd quarter. Toronto Dominion Bank now owns 266 shares of the company’s stock valued at $131,000 after acquiring an additional 169 shares in the last quarter. Institutional investors own 60.32% of the company’s stock.
Analyst Ratings Changes
A number of brokerages have commented on ARGX. JPMorgan Chase & Co. decreased their price target on shares of argenx from $560.00 to $500.00 and set an “overweight” rating for the company in a research note on Monday, May 13th. Morgan Stanley decreased their price target on shares of argenx from $515.00 to $510.00 and set an “overweight” rating for the company in a research note on Tuesday, May 28th. JMP Securities decreased their price target on shares of argenx from $471.00 to $468.00 and set a “market outperform” rating for the company in a research note on Friday, May 10th. Truist Financial boosted their price target on shares of argenx from $370.00 to $440.00 and gave the company a “buy” rating in a research note on Tuesday, March 5th. Finally, Wedbush restated an “outperform” rating and set a $521.00 price target on shares of argenx in a research note on Thursday, April 18th. One research 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 company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $520.68.
argenx Trading Down 2.8%
Shares of NASDAQ:ARGX traded down $10.99 during midday trading on Friday, reaching $375.81. The company had a trading volume of 268,913 shares, compared to its average volume of 280,621. The company’s 50-day moving average price is $376.30 and its 200-day moving average price is $392.99. The stock has a market cap of $22.33 billion, a P/E ratio of -66.40 and a beta of 0.65. argenx SE has a 52-week low of $327.73 and a 52-week high of $550.76. argenx (NASDAQ:ARGX) last issued its quarterly earnings results on Monday, May 13th. The company reported ($1.04) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.71) by ($0.33). The company had revenue of $412.51 million during the quarter, compared to analysts’ expectations of $404.03 million. argenx had a negative return on equity of 14.14% and a negative net margin of 22.58%. During the same period last year, the firm posted ($0.52) earnings per share. Research analysts forecast that argenx SE will post -2.75 EPS 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.
