argenx (NASDAQ:ARGX) Shares Gap Down to $444.94

argenx SE (NASDAQ:ARGX) gapped down prior to trading on Friday . The stock had previously closed at $444.94, but opened at $432.69. argenx shares last traded at $429.61, with a volume of 26,678 shares trading hands.

Analyst Ratings Changes

Several research firms have issued reports on ARGX. Piper Sandler increased their price objective on argenx from $522.00 to $535.00 and gave the stock an “overweight” rating in a research note on Monday. Wedbush restated an “outperform” rating and set a $519.00 target price on shares of argenx in a report on Wednesday. JMP Securities decreased their target price on argenx from $471.00 to $468.00 and set a “market outperform” rating on the stock in a report on Friday, May 10th. HC Wainwright restated a “buy” rating and set a $448.00 target price on shares of argenx in a report on Monday. Finally, Morgan Stanley decreased their target price on argenx from $515.00 to $510.00 and set an “overweight” rating on the stock in a report on Tuesday, May 28th. Five investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $525.42.

argenx Stock Performance

The business has a 50 day moving average of $381.58 and a two-hundred day moving average of $387.30.

argenx (NASDAQ:ARGX) last issued its quarterly earnings results on Monday, May 13th. The company reported ($1.04) EPS for the quarter, missing analysts’ consensus estimates of ($0.71) by ($0.33). argenx had a negative net margin of 22.58% and a negative return on equity of 14.14%. The business had revenue of $412.51 million for the quarter, compared to analysts’ expectations of $404.03 million. During the same period in the previous year, the business posted ($0.52) earnings per share. Analysts anticipate that argenx SE will post -2.88 earnings per share for the current year.

Institutional Investors Weigh In On argenx

Several large investors have recently added to or reduced their stakes in ARGX. GAMMA Investing LLC raised its position in argenx by 420.0% during the first quarter. GAMMA Investing LLC now owns 78 shares of the company’s stock valued at $31,000 after purchasing an additional 63 shares in the last quarter. FNY Investment Advisers LLC bought a new stake in shares of argenx in the fourth quarter worth about $38,000. Mather Group LLC. bought a new stake in argenx during the 1st quarter valued at approximately $38,000. Benjamin F. Edwards & Company Inc. bought a new stake in argenx during the 4th quarter valued at approximately $60,000. Finally, Lindbrook Capital LLC boosted its position in argenx by 23.1% during the 1st quarter. Lindbrook Capital LLC now owns 197 shares of the company’s stock valued at $78,000 after acquiring an additional 37 shares in the last quarter. Institutional investors 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.