argenx (NASDAQ:ARGX) Shares Gap Down – Time to Sell?

argenx SE (NASDAQ:ARGX) gapped down before the market opened on Friday . The stock had previously closed at $595.04, but opened at $572.41. argenx shares last traded at $571.79, with a volume of 103,579 shares.

Wall Street Analyst Weigh In

ARGX has been the subject of several recent research reports. Wedbush boosted their price target on argenx from $519.00 to $560.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. JMP Securities boosted their target price on shares of argenx from $497.00 to $606.00 and gave the company a “market outperform” rating in a research report on Friday, November 1st. Baird R W lowered shares of argenx from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 1st. Deutsche Bank Aktiengesellschaft downgraded shares of argenx from a “buy” rating to a “hold” rating in a report on Friday, October 4th. Finally, Scotiabank raised shares of argenx from a “sector perform” rating to a “sector outperform” rating and raised their target price for the stock from $439.00 to $715.00 in a report on Tuesday, November 5th. Three investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $619.79.

argenx Price Performance

The company has a 50 day moving average of $552.45 and a 200-day moving average of $479.91. The company has a market capitalization of $34.28 billion, a P/E ratio of -646.78 and a beta of 0.61.

argenx (NASDAQ:ARGX) last posted its earnings results on Thursday, October 31st. The company reported $1.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.10 by $1.29. The firm had revenue of $588.88 million for the quarter, compared to the consensus estimate 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 in the prior year, the business earned ($1.25) EPS. Research analysts predict that argenx SE will post 2.2 EPS for the current fiscal year.

Hedge Funds Weigh In On argenx

Several institutional investors and hedge funds have recently bought and sold shares of ARGX. Seven Eight Capital LP raised its holdings in argenx by 66.4% during the first quarter. Seven Eight Capital LP now owns 3,110 shares of the company’s stock valued at $1,224,000 after acquiring an additional 1,241 shares during the period. Clearbridge Investments LLC raised its position in shares of argenx by 36.5% during the first quarter. Clearbridge Investments LLC now owns 596,277 shares of the company’s stock valued at $234,766,000 after buying an additional 159,480 shares during the last quarter. Fiera Capital Corp lifted its holdings in shares of argenx by 2.2% in the second quarter. Fiera Capital Corp now owns 165,595 shares of the company’s stock worth $71,212,000 after buying an additional 3,506 shares in the last quarter. Cetera Advisors LLC bought a new position in shares of argenx during the first quarter worth $419,000. Finally, Perpetual Ltd purchased a new position in argenx during the third quarter valued at $76,314,000. 60.32% of the stock is currently 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.