argenx (NASDAQ:ARGX) Shares Gap Down – What’s Next?

argenx SE (NASDAQ:ARGX)’s share price gapped down prior to trading on Friday . The stock had previously closed at $542.99, but opened at $531.78. argenx shares last traded at $531.37, with a volume of 76,753 shares trading hands.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on ARGX. Barclays raised argenx from an “equal weight” rating to an “overweight” rating in a report on Tuesday, August 6th. Wells Fargo & Company increased their price target on shares of argenx from $543.00 to $547.00 and gave the company an “overweight” rating in a report on Friday, July 26th. Stifel Nicolaus boosted their price objective on shares of argenx from $485.00 to $500.00 and gave the stock a “buy” rating in a report on Monday, June 24th. Robert W. Baird upped their target price on shares of argenx from $490.00 to $515.00 and gave the stock an “outperform” rating in a research report on Monday, July 29th. Finally, William Blair reiterated a “market perform” rating on shares of argenx in a research report on Monday, June 17th. Four research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $543.28.

argenx Stock Performance

The company’s fifty day moving average price is $525.71 and its two-hundred day moving average price is $443.79. The firm has a market capitalization of $31.50 billion, a PE ratio of -93.63 and a beta of 0.63.

argenx (NASDAQ:ARGX) last posted its quarterly earnings results on Thursday, July 25th. The company reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.89) by $1.34. argenx had a negative net margin of 12.31% and a negative return on equity of 7.33%. The company had revenue of $489.43 million for the quarter, compared to the consensus estimate of $436.66 million. During the same quarter last year, the firm posted ($1.69) earnings per share. On average, equities analysts expect that argenx SE will post -0.37 earnings per share for the current year.

Institutional Investors Weigh In On argenx

A number of institutional investors have recently added to or reduced their stakes in ARGX. Profund Advisors LLC grew its holdings in shares of argenx by 3.0% during the 2nd quarter. Profund Advisors LLC now owns 973 shares of the company’s stock worth $418,000 after purchasing an additional 28 shares during the period. Wealth Alliance raised its stake in shares of argenx by 4.8% in the 2nd quarter. Wealth Alliance now owns 628 shares of the company’s stock valued at $270,000 after acquiring an additional 29 shares during the period. Wahed Invest LLC raised its stake in shares of argenx by 9.6% in 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 during the period. GAMMA Investing LLC lifted its holdings 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 acquiring an additional 40 shares in the last quarter. Finally, Toronto Dominion Bank boosted its position in argenx by 16.5% during the 1st quarter. Toronto Dominion Bank now owns 303 shares of the company’s stock worth $119,000 after purchasing an additional 43 shares during the period. 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.