argenx (NASDAQ:ARGX) Shares Gap Down – Here’s What Happened

argenx SE (NASDAQ:ARGX)’s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $605.52, but opened at $590.99. argenx shares last traded at $587.97, with a volume of 51,917 shares trading hands.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on ARGX. Piper Sandler upped their price target on argenx from $620.00 to $725.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 7th. William Blair restated an “outperform” rating on shares of argenx in a research report on Friday, February 28th. Truist Financial reaffirmed a “buy” rating and issued a $700.00 target price (up previously from $660.00) on shares of argenx in a report on Tuesday, January 14th. JMP Securities boosted their price target on shares of argenx from $606.00 to $696.00 and gave the stock a “market outperform” rating in a research note on Tuesday, January 14th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of argenx from a “sell” rating to a “hold” rating in a research report on Wednesday, March 12th. Three analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $687.00.

argenx Stock Performance

The stock has a market capitalization of $36.06 billion, a PE ratio of -674.40 and a beta of 0.59. The company’s fifty day simple moving average is $629.28 and its two-hundred day simple moving average is $600.95.

argenx (NASDAQ:ARGX) last issued its quarterly earnings data on Thursday, February 27th. The company reported $1.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.98 by $0.60. argenx had a negative net margin of 2.11% and a negative return on equity of 1.45%. The business had revenue of $761.22 million during the quarter, compared to analysts’ expectations of $678.52 million. Sell-side analysts forecast that argenx SE will post 3.13 EPS for the current fiscal year.

Hedge Funds Weigh In On argenx

Institutional investors have recently made changes to their positions in the stock. GeoWealth Management LLC grew its holdings in shares of argenx by 56.3% during the fourth quarter. GeoWealth Management LLC now owns 50 shares of the company’s stock worth $31,000 after buying an additional 18 shares in the last quarter. Whipplewood Advisors LLC acquired a new stake in argenx during the fourth quarter worth approximately $37,000. Global Retirement Partners LLC grew its stake in argenx by 369.2% in the 4th quarter. Global Retirement Partners LLC now owns 61 shares of the company’s stock worth $38,000 after acquiring an additional 48 shares during the period. FIL Ltd acquired a new position in argenx in the 4th quarter valued at $38,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of argenx during the 4th quarter worth $38,000. 60.32% of the stock is owned by institutional investors and hedge funds.

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.