argenx (NASDAQ:ARGX) Shares Gap Down – Should You Sell?

argenx SE (NASDAQ:ARGX) shares 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 changing hands.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on ARGX. JMP Securities raised their price target on argenx from $606.00 to $696.00 and gave the company a “market outperform” rating in a report on Tuesday, January 14th. Wells Fargo & Company raised their target price on argenx from $723.00 to $741.00 and gave the company an “overweight” rating in a report on Friday, February 28th. Wedbush reaffirmed an “outperform” rating and set a $655.00 price target on shares of argenx in a research note on Tuesday, December 3rd. HC Wainwright boosted their price objective on shares of argenx from $717.00 to $720.00 and gave the stock a “buy” rating in a report on Friday, February 28th. Finally, Truist Financial restated a “buy” rating and set a $700.00 target price (up from $660.00) on shares of argenx in a research report on Tuesday, January 14th. Three investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $687.00.

argenx Price Performance

The stock has a market cap of $35.73 billion, a PE ratio of -668.24 and a beta of 0.59. The stock has a 50-day simple moving average of $632.24 and a 200-day simple moving average of $601.12.

argenx (NASDAQ:ARGX) last posted its earnings results on Thursday, February 27th. The company reported $1.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.98 by $0.60. The firm had revenue of $761.22 million during the quarter, compared to the consensus estimate of $678.52 million. argenx had a negative net margin of 2.11% and a negative return on equity of 1.45%. As a group, equities research analysts anticipate that argenx SE will post 3.13 EPS for the current year.

Institutional Trading of argenx

Large investors have recently bought and sold shares of the company. GeoWealth Management LLC increased its stake in 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 period. Whipplewood Advisors LLC acquired a new position in shares of argenx in the fourth quarter worth about $37,000. Global Retirement Partners LLC lifted its stake in shares of argenx by 369.2% in the fourth quarter. Global Retirement Partners LLC now owns 61 shares of the company’s stock worth $38,000 after acquiring an additional 48 shares in the last quarter. FIL Ltd purchased a new stake in argenx during the 4th quarter worth approximately $38,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of argenx in the 4th quarter valued at approximately $38,000. Institutional investors and hedge funds 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.