Mackenzie Financial Corp buys 119 shares of argenx SE (NASDAQ:ARGX)

Mackenzie Financial Corp increased its stake in shares of argenx SE (NASDAQ:ARGX – Free Report) by 6.8% in the fourth quarter, according to its latest 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,863 shares of the company, after purchasing an additional 119 shares during the quarter. Mackenzie Financial Corp’s holdings in argenx were worth $709,000 at the time of the most recent SEC filing.

A number of other institutional investors and hedge funds have also recently increased or decreased their stakes in ARGX. CWM LLC increased its holdings in argenx by 29.4% during the third quarter. CWM LLC now owns 207 shares of the company’s stock valued at $102,000 after purchasing an additional 47 shares in the last quarter. DAVENPORT & Co LLC increased its holdings in argenx by 11.8% in the third quarter. DAVENPORT & Co LLC now owns 1,407 shares of the company’s stock valued at $692,000 after purchasing an additional 148 shares in the last quarter. Handelsbanken Fonder AB increased its stake in argenx by 5.2% in the third quarter. Handelsbanken Fonder AB now owns 27,466 shares of the company’s stock valued at $13,503,000 after purchasing an additional 1,364 shares in the last quarter. Raymond James & Associates increased its holdings in argenx by 132.3% in the third quarter. Raymond James & Associates now owns 33,771 shares of the company’s stock valued at $16,603,000 after purchasing an additional 19,232 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. increased its stake in argenx by 15.8% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 11,096 shares of the company’s stock, valued at $5,455,000, after purchasing an additional 1,518 shares in the last quarter. Institutional investors own 60.32% of the company’s shares.

Changes in analyst ratings

ARGX has been the subject of several recent research reports. JMP Securities reiterated a “market outperform” rating and issued a $471.00 price target on shares of argenx in a report on Friday, March 22. Wedbush reiterated an “outperform” rating and issued a $521.00 price target on shares of argenx in a report on Thursday, April 18. Scotiabank lifted their price target on shares of argenx from $402.00 to $408.00 and gave the company a “sector perform” rating in a report on Tuesday, March 26. Truist Financial raised their price target on shares of argenx from $370.00 to $440.00 and gave the company a “buy” rating in a report on Tuesday, March 5. Finally, Wolfe Research initiated coverage on shares of argenx in a report on Thursday, February 15th. They gave the company a peer perform rating. One investment analyst has rated the stock with a sell rating, five have given a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, argenx has an average rating of “Moderate Buy” and an average price target of $528.16.

Get our latest report on ARGX

argenx shares fall 1.7%

Shares of argenx opened at $368.60 on Friday. The company has a market cap of $21.91 billion, a price-to-earnings ratio of -71.71 and a beta of 0.65. argenx SE has a 52-week low of $327.73 and a 52-week high of $550.76. The company’s 50-day moving average price is $386.41 and its 200-day moving average price is $418.17.

argenx (NASDAQ:ARGX – Get Free Report) last reported its earnings results on Thursday, February 29th. The company reported ($1.68) earnings per share for the quarter, missing the ($1.23) ($0.45) consensus estimate. The company had revenue of $417.84 million for the quarter, compared to analyst expectations 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 period last year, the company posted earnings per share ($0.70). As a group, equity research analysts predict that argenx SE will post -2.1 earnings per share for the current fiscal year.

argenx profile

(Free report)

argenx SE, a biotechnology company, is developing various therapies for the treatment of autoimmune diseases in the United States, Japan, Europe, the Middle East, Africa and China. The 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 neuropathy, delayed graft function and dermatomyositis; and ARGX-119 for congenital myasthenic syndrome and amyotrophic lateral sclerosis.

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