argenx (NASDAQ:ARGX) Shares Gap Up – Here’s Why

argenx SE (NASDAQ:ARGX)’s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $588.94, but opened at $600.90. argenx shares last traded at $596.54, with a volume of 23,776 shares changing hands.

Analyst Ratings Changes

A number of brokerages have recently issued reports on ARGX. Baird R W lowered argenx from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 1st. Oppenheimer boosted their price objective on argenx from $560.00 to $646.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Wedbush increased their target price on argenx from $519.00 to $560.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Barclays upgraded argenx from an “equal weight” rating to an “overweight” rating in a research report on Tuesday, August 6th. Finally, Citigroup upped their price target on argenx from $512.00 to $635.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. Three investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, argenx has a consensus rating of “Moderate Buy” and an average target price of $619.79.

argenx Trading Up 0.9 %

The company’s 50-day moving average price is $551.52 and its two-hundred day moving average price is $479.10. The company has a market cap of $35.84 billion, a P/E ratio of -681.08 and a beta of 0.61.

argenx (NASDAQ:ARGX) last issued its earnings results on Thursday, October 31st. The company reported $1.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.10 by $1.29. argenx had a negative net margin of 2.11% and a negative return on equity of 1.45%. The firm had revenue of $588.88 million during the quarter, compared to analysts’ expectations of $543.29 million. During the same period last year, the firm posted ($1.25) earnings per share. Equities analysts forecast that argenx SE will post 2.2 earnings per share for the current year.

Institutional Investors Weigh In On argenx

Several hedge funds have recently modified their holdings of ARGX. Price T Rowe Associates Inc. MD raised its holdings in argenx by 49.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,504,506 shares of the company’s stock worth $2,167,235,000 after buying an additional 1,830,651 shares during the period. FMR LLC lifted its position in shares of argenx by 35.9% in the 3rd quarter. FMR LLC now owns 4,793,472 shares of the company’s stock valued at $2,598,445,000 after acquiring an additional 1,265,486 shares in the last quarter. Janus Henderson Group PLC boosted its stake in argenx by 24.8% in the 1st quarter. Janus Henderson Group PLC now owns 2,216,648 shares of the company’s stock worth $872,690,000 after purchasing an additional 439,889 shares during the period. Clearbridge Investments LLC grew its position in argenx by 36.5% during the 1st quarter. Clearbridge Investments LLC now owns 596,277 shares of the company’s stock worth $234,766,000 after purchasing an additional 159,480 shares in the last quarter. Finally, Perpetual Ltd acquired a new stake in argenx during the 3rd quarter valued at $76,314,000. 60.32% of the stock is owned by hedge funds and other 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.