argenx (NASDAQ:ARGX) Shares Down 3.4%

argenx SE (NASDAQ:ARGX) traded down 3.4% during trading on Tuesday . The company traded as low as $518.27 and last traded at $519.59. 162,861 shares traded hands during mid-day trading, a decline of 50% from the average session volume of 323,167 shares. The stock had previously closed at $537.94.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Wells Fargo & Company upped their target price on argenx from $543.00 to $547.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. Piper Sandler upped their target price on argenx from $522.00 to $535.00 and gave the company an “overweight” rating in a research report on Monday, June 24th. Guggenheim upped their target price on argenx from $545.00 to $585.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Evercore ISI upped their price objective on argenx from $478.00 to $533.00 and gave the stock an “outperform” rating in a research report on Friday, July 12th. Finally, Barclays upgraded argenx from an “equal weight” rating to an “overweight” rating in a research report on Tuesday, August 6th. Three analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $547.74.

argenx Stock Performance

The firm has a market capitalization of $31.88 billion, a price-to-earnings ratio of -93.47 and a beta of 0.62. The business has a 50 day simple moving average of $509.76 and a 200-day simple moving average of $430.73.

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

Hedge Funds Weigh In On argenx

Several hedge funds and other institutional investors have recently made changes to their positions in ARGX. Gilbert & Cook Inc. boosted its stake in shares of argenx by 8.0% in the 4th quarter. Gilbert & Cook Inc. now owns 1,991 shares of the company’s stock valued at $757,000 after buying an additional 147 shares during the period. Principal Securities Inc. purchased a new position in shares of argenx in the 4th quarter valued at about $99,000. Envestnet Portfolio Solutions Inc. boosted its stake in shares of argenx by 21.6% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 1,070 shares of the company’s stock valued at $407,000 after buying an additional 190 shares during the period. Vanguard Personalized Indexing Management LLC boosted its stake in shares of argenx by 3.1% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 1,428 shares of the company’s stock valued at $543,000 after buying an additional 43 shares during the period. Finally, Assetmark Inc. raised its position in shares of argenx by 29.2% during the 4th quarter. Assetmark Inc. now owns 5,638 shares of the company’s stock worth $2,145,000 after acquiring an additional 1,273 shares in the last quarter. Hedge funds and other 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.