argenx (NASDAQ:ARGX) Shares Gap Down to $486.33

argenx SE (NASDAQ:ARGX) shares gapped down prior to trading on Friday . The stock had previously closed at $486.33, but opened at $476.04. argenx shares last traded at $480.41, with a volume of 46,482 shares traded.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on ARGX shares. William Blair reaffirmed a “market perform” rating on shares of argenx in a research note on Monday, June 17th. Truist Financial increased their price objective on argenx from $480.00 to $540.00 and gave the company a “buy” rating in a report on Monday. Piper Sandler increased their target price on argenx from $522.00 to $535.00 and gave the company an “overweight” rating in a research note on Monday, June 24th. Bank of America reiterated a “buy” rating and issued a $607.00 price objective (up previously from $535.00) on shares of argenx in a research report on Monday, June 24th. Finally, Oppenheimer raised argenx from a “market perform” rating to an “outperform” rating and set a $546.00 price target for the company in a report on Tuesday. Three equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $539.32.

argenx Stock Performance

The stock has a 50 day simple moving average of $413.06 and a two-hundred day simple moving average of $394.35. The firm has a market cap of $29.21 billion, a PE ratio of -87.08 and a beta of 0.64.

argenx (NASDAQ:ARGX) last issued its quarterly earnings results on Thursday, July 25th. The company reported $0.45 EPS for the quarter, topping the consensus estimate of ($0.89) by $1.34. argenx had a negative return on equity of 14.14% and a negative net margin of 22.58%. The firm had revenue of $489.43 million during the quarter, compared to analysts’ expectations of $436.66 million. During the same period in the previous year, the business earned ($1.69) earnings per share. Equities research analysts forecast that argenx SE will post -2.88 earnings per share for the current year.

Institutional Trading of argenx

Hedge funds have recently made changes to their positions in the company. Lindbrook Capital LLC increased its position in argenx by 23.1% during the 1st quarter. Lindbrook Capital LLC now owns 197 shares of the company’s stock worth $78,000 after purchasing an additional 37 shares in the last quarter. Wahed Invest LLC raised its stake in argenx by 9.6% during the 4th quarter. Wahed Invest LLC now owns 457 shares of the company’s stock valued at $174,000 after acquiring an additional 40 shares in the last quarter. GAMMA Investing LLC increased its position in shares of argenx by 51.3% during the 2nd quarter. GAMMA Investing LLC now owns 118 shares of the company’s stock valued at $51,000 after purchasing an additional 40 shares during the period. Daiwa Securities Group Inc. boosted its stake in shares of argenx by 2.8% during the 4th quarter. Daiwa Securities Group Inc. now owns 1,530 shares of the company’s stock worth $582,000 after acquiring an additional 41 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC boosted its stake in argenx by 3.1% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 1,428 shares of the company’s stock worth $543,000 after purchasing an additional 43 shares during the period. Institutional investors and hedge funds own 60.32% of the company’s stock.

About argenx

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.