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

argenx SE (NASDAQ:ARGX)’s share 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.

Analyst Ratings Changes

ARGX has been the topic of several research analyst reports. JMP Securities lifted their target price on shares of argenx from $606.00 to $696.00 and gave the company a “market outperform” rating in a research report on Tuesday, January 14th. Robert W. Baird upped their target price on argenx from $650.00 to $680.00 and gave the company a “neutral” rating in a report on Tuesday, March 4th. Citigroup reiterated an “outperform” rating on shares of argenx in a report on Friday, February 28th. HC Wainwright boosted their price target on shares of argenx from $717.00 to $720.00 and gave the company a “buy” rating in a research report on Friday, February 28th. Finally, Sanford C. Bernstein upgraded shares of argenx from a “market perform” rating to an “outperform” rating in a research report on Monday, March 17th. Three analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, argenx presently has an average rating of “Moderate Buy” and an average price target of $687.00.

argenx Price Performance

The business’s 50 day moving average is $629.28 and its 200-day moving average is $600.95. The company has a market cap of $36.06 billion, a PE ratio of -674.40 and a beta of 0.59.

argenx (NASDAQ:ARGX) last released its quarterly earnings data on Thursday, February 27th. The company reported $1.58 earnings per share (EPS) for the quarter, topping the consensus estimate 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. As a group, sell-side analysts predict that argenx SE will post 3.13 EPS for the current fiscal year.

Institutional Investors Weigh In On argenx

Institutional investors have recently added to or reduced their stakes in the business. GeoWealth Management LLC lifted its position in shares of argenx by 56.3% during the 4th quarter. GeoWealth Management LLC now owns 50 shares of the company’s stock worth $31,000 after buying an additional 18 shares during the last quarter. Whipplewood Advisors LLC purchased a new stake in argenx in the fourth quarter valued at approximately $37,000. Global Retirement Partners LLC increased its stake in argenx by 369.2% in the fourth quarter. Global Retirement Partners LLC now owns 61 shares of the company’s stock valued at $38,000 after purchasing an additional 48 shares during the period. FIL Ltd acquired a new stake in shares of argenx during the fourth quarter worth about $38,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of argenx during the fourth quarter worth about $38,000. Hedge funds and other institutional investors 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.