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

argenx SE (NASDAQ:ARGX)’s stock price gapped down before the market opened 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.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Robert W. Baird increased their target price on shares of argenx from $650.00 to $680.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 4th. Piper Sandler increased their price objective on shares of argenx from $620.00 to $725.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 7th. Truist Financial reissued a “buy” rating and issued a $700.00 target price (up previously from $660.00) on shares of argenx in a research report on Tuesday, January 14th. Citigroup restated an “outperform” rating on shares of argenx in a research report on Friday, February 28th. Finally, Oppenheimer boosted their price objective on argenx from $675.00 to $704.00 and gave the company an “outperform” rating in a report on Friday, February 28th. Three research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, argenx has a consensus rating of “Moderate Buy” and a consensus target price of $687.00.

argenx Stock Performance

The firm has a 50-day moving average price of $632.24 and a two-hundred day moving average price of $601.12. The firm has a market cap of $35.73 billion, a price-to-earnings ratio of -668.24 and a beta of 0.59.

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 the consensus estimate of $0.98 by $0.60. The business had revenue of $761.22 million during the quarter, compared to the consensus estimate of $678.52 million. argenx had a negative net margin of 2.11% and a negative return on equity of 1.45%. Research analysts anticipate that argenx SE will post 3.13 earnings per share for the current year.

Hedge Funds Weigh In On argenx

Large investors have recently bought and sold shares of the stock. Stifel Financial Corp boosted its position in shares of argenx by 15.3% in the 3rd quarter. Stifel Financial Corp now owns 8,832 shares of the company’s stock valued at $4,788,000 after purchasing an additional 1,170 shares during the period. FMR LLC lifted its stake in argenx by 35.9% in the third quarter. FMR LLC now owns 4,793,472 shares of the company’s stock valued at $2,598,445,000 after buying an additional 1,265,486 shares during the last quarter. Stephens Inc. AR acquired a new stake in shares of argenx in the fourth quarter valued at approximately $310,000. Ritholtz Wealth Management boosted its stake in shares of argenx by 85.5% during the fourth quarter. Ritholtz Wealth Management now owns 898 shares of the company’s stock worth $552,000 after buying an additional 414 shares during the period. Finally, Westfield Capital Management Co. LP purchased a new position in shares of argenx during the third quarter worth about $571,000. Institutional investors and hedge funds own 60.32% of the company’s stock.

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.