The Manufacturers Life Insurance Company Has $33.39 Million Stock Holdings in argenx SE (NASDAQ:ARGX)

The Manufacturers Life Insurance Company boosted its position in shares of argenx SE (NASDAQ:ARGX) by 11.1% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 61,586 shares of the company’s stock after purchasing an additional 6,151 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in argenx were worth $33,385,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Blue Trust Inc. boosted its position in shares of argenx by 620.0% during the second quarter. Blue Trust Inc. now owns 72 shares of the company’s stock worth $28,000 after purchasing an additional 62 shares in the last quarter. J.Safra Asset Management Corp lifted its holdings in argenx by 590.0% during the second quarter. J.Safra Asset Management Corp now owns 69 shares of the company’s stock worth $30,000 after acquiring an additional 59 shares in the last quarter. GAMMA Investing LLC grew its stake in argenx by 51.3% in the second quarter. GAMMA Investing LLC now owns 118 shares of the company’s stock valued at $51,000 after acquiring an additional 40 shares during the period. Point72 Hong Kong Ltd bought a new stake in shares of argenx in the second quarter worth about $76,000. Finally, Cromwell Holdings LLC raised its position in shares of argenx by 73.3% during the third quarter. Cromwell Holdings LLC now owns 156 shares of the company’s stock worth $85,000 after purchasing an additional 66 shares during the period. Institutional investors own 60.32% of the company’s stock.

Analysts Set New Price Targets

ARGX has been the subject of a number of research reports. Robert W. Baird cut argenx from an “outperform” rating to a “neutral” rating and increased their target price for the stock from $515.00 to $650.00 in a research note on Friday, November 1st. JMP Securities increased their price objective on shares of argenx from $497.00 to $606.00 and gave the stock a “market outperform” rating in a research report on Friday, November 1st. William Blair raised shares of argenx from a “market perform” rating to an “outperform” rating in a research report on Friday, November 1st. Guggenheim increased their target price on argenx from $585.00 to $665.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Finally, Wolfe Research raised argenx from a “peer perform” rating to an “outperform” rating and set a $697.00 price target on the stock in a research note on Tuesday, November 12th. Three analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $630.42.

argenx Price Performance

Shares of ARGX stock opened at $616.55 on Friday. The stock has a market cap of $37.22 billion, a P/E ratio of -700.63 and a beta of 0.61. The company has a fifty day moving average price of $564.06 and a two-hundred day moving average price of $494.46. argenx SE has a one year low of $327.73 and a one year high of $620.28.

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