argenx (NASDAQ:ARGX) Shares Gap Down to $376.26

Shares of argenx SE (NASDAQ:ARGX) gapped down before the market opened on Tuesday . The stock had previously closed at $376.26, but opened at $360.37. argenx shares last traded at $368.73, with a volume of 46,438 shares trading hands.

Analyst Ratings Changes

Several research analysts have issued reports on ARGX shares. Wolfe Research started coverage on shares of argenx in a report on Thursday, February 15th. They issued a “peer perform” rating for the company. Scotiabank boosted their price objective on shares of argenx from $402.00 to $408.00 and gave the stock a “sector perform” rating in a report on Tuesday, March 26th. Robert W. Baird cut their target price on argenx from $505.00 to $490.00 and set an “outperform” rating on the stock in a research note on Friday, March 1st. Raymond James reduced their target price on argenx from $580.00 to $520.00 and set a “strong-buy” rating for the company in a report on Thursday, December 21st. Finally, HC Wainwright reaffirmed a “buy” rating and set a $451.00 price target on shares of argenx in a report on Wednesday, March 27th. One analyst has rated the stock with a sell rating, five have issued a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $530.74.

argenx Stock Down 1.2 %

The company has a fifty day simple moving average of $388.98 and a 200-day simple moving average of $422.26. The firm has a market cap of $21.72 billion, a P/E ratio of -71.25 and a beta of 0.65.

argenx (NASDAQ:ARGX) last announced its quarterly earnings data on Thursday, February 29th. The company reported ($1.68) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.23) by ($0.45). argenx had a negative net margin of 23.26% and a negative return on equity of 16.97%. The company had revenue of $417.84 million for the quarter, compared to the consensus estimate of $378.60 million. During the same quarter last year, the firm posted ($0.70) earnings per share. As a group, research analysts forecast that argenx SE will post -2.09 EPS for the current year.

Institutional Trading of argenx

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Raymond James Financial Services Advisors Inc. boosted its holdings in argenx by 30.4% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 14,470 shares of the company’s stock worth $5,505,000 after buying an additional 3,374 shares during the period. China Universal Asset Management Co. Ltd. boosted its stake in shares of argenx by 388.7% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 3,719 shares of the company’s stock worth $1,415,000 after acquiring an additional 2,958 shares during the period. RTW Investments LP lifted its holdings in shares of argenx by 5.2% in the 3rd quarter. RTW Investments LP now owns 507,195 shares of the company’s stock valued at $249,352,000 after acquiring an additional 25,000 shares during the last quarter. Townsquare Capital LLC grew its position in argenx by 96.6% in the third quarter. Townsquare Capital LLC now owns 3,442 shares of the company’s stock worth $1,692,000 after acquiring an additional 1,691 shares in the last quarter. Finally, Northern Trust Corp increased its stake in argenx by 41.1% during the third quarter. Northern Trust Corp now owns 39,936 shares of the company’s stock worth $19,634,000 after acquiring an additional 11,627 shares during the last quarter. 60.32% of the stock is owned by hedge funds and other institutional investors.

argenx Company 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.