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

argenx SE (NASDAQ:ARGX) shares 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.

Wall Street Analysts Forecast Growth

A number of analysts have commented on ARGX shares. HC Wainwright reaffirmed a “buy” rating and set a $451.00 price target on shares of argenx in a research report on Wednesday, March 27th. Piper Sandler raised their target price on argenx from $518.00 to $522.00 and gave the stock an “overweight” rating in a research note on Friday, January 26th. Wolfe Research initiated coverage on argenx in a research note on Thursday, February 15th. They issued a “peer perform” rating on the stock. Truist Financial increased their price target on argenx from $370.00 to $440.00 and gave the stock a “buy” rating in a report on Tuesday, March 5th. Finally, Evercore ISI lowered their price objective on shares of argenx from $594.00 to $436.00 and set an “outperform” rating for the company in a research note on Thursday, December 21st. One research analyst has rated the stock with a sell rating, five have issued a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $530.74.

argenx Stock Performance

The company’s 50 day moving average price is $388.98 and its 200-day moving average price is $422.26. The stock 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 issued 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 return on equity of 16.97% and a negative net margin of 23.26%. The firm had revenue of $417.84 million during the quarter, compared to the consensus estimate of $378.60 million. During the same period in the previous year, the company posted ($0.70) earnings per share. On average, analysts forecast that argenx SE will post -2.09 earnings per share for the current fiscal year.

Institutional Trading of argenx

Hedge funds have recently bought and sold shares of the business. KB Financial Partners LLC grew its stake in argenx by 112.5% in the 1st quarter. KB Financial Partners LLC now owns 85 shares of the company’s stock valued at $27,000 after purchasing an additional 45 shares during the period. ADAR1 Capital Management LLC bought a new position in argenx during the fourth quarter valued at about $27,000. Parkside Financial Bank & Trust purchased a new stake in argenx during the third quarter worth about $28,000. GAMMA Investing LLC raised its position in argenx by 420.0% in the first quarter. GAMMA Investing LLC now owns 78 shares of the company’s stock worth $31,000 after acquiring an additional 63 shares during the period. Finally, FNY Investment Advisers LLC bought a new stake in argenx in the fourth quarter worth about $38,000. 60.32% of the stock is currently owned by 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.