Mackenzie Financial Corp Grows Stock Position in argenx SE (NASDAQ:ARGX)

Mackenzie Financial Corp lifted its holdings in shares of argenx SE (NASDAQ:ARGX - Free Report) by 81.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,449 shares of the company's stock after acquiring an additional 1,996 shares during the quarter. Mackenzie Financial Corp's holdings in argenx were worth $2,736,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Point72 Europe London LLP purchased a new stake in shares of argenx during the fourth quarter valued at approximately $5,839,000. Stephens Inc. AR purchased a new stake in shares of argenx during the fourth quarter valued at approximately $310,000. Jones Financial Companies Lllp increased its position in shares of argenx by 1,016.7% during the fourth quarter. Jones Financial Companies Lllp now owns 67 shares of the company's stock valued at $41,000 after acquiring an additional 61 shares during the last quarter. Ameriprise Financial Inc. increased its position in shares of argenx by 10.0% during the fourth quarter. Ameriprise Financial Inc. now owns 7,013 shares of the company's stock valued at $4,313,000 after acquiring an additional 639 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB grew its holdings in argenx by 47.8% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 1,776 shares of the company's stock valued at $1,092,000 after purchasing an additional 574 shares during the period. 60.32% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. HC Wainwright reissued a "buy" rating and set a $720.00 price objective on shares of argenx in a report on Tuesday, April 8th. Robert W. Baird raised argenx from a "neutral" rating to an "outperform" rating and set a $680.00 price objective for the company in a report on Tuesday, May 13th. William Blair reissued an "outperform" rating on shares of argenx in a report on Friday, February 28th. Baird R W raised argenx from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 13th. Finally, Oppenheimer boosted their target price on shares of argenx from $704.00 to $708.00 and gave the company an "outperform" rating in a report on Friday, May 9th. One equities research analyst has rated the stock with a hold rating, nineteen have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $709.18.

argenx Stock Down 0.7%

Shares of ARGX stock traded down $4.21 on Friday, reaching $576.74. The company's stock had a trading volume of 350,163 shares, compared to its average volume of 323,478. argenx SE has a 12-month low of $368.57 and a 12-month high of $678.21. The company has a market capitalization of $35.22 billion, a P/E ratio of -655.39 and a beta of 0.57. The stock's 50 day simple moving average is $586.57 and its 200-day simple moving average is $612.52.

argenx (NASDAQ:ARGX - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported $2.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.32 by $0.26. The firm had revenue of $1.35 billion during the quarter, compared to analyst estimates of $748.34 million. argenx had a negative return on equity of 1.45% and a negative net margin of 2.11%. Research analysts expect that argenx SE will post 3.13 EPS for the current 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.