argenx (NASDAQ:ARGX) Shares Gap Down – Time to Sell?

argenx SE (NASDAQ:ARGX)’s stock price gapped down before the market opened on Friday . The stock had previously closed at $595.04, but opened at $572.41. argenx shares last traded at $571.79, with a volume of 103,579 shares.

Analyst Upgrades and Downgrades

ARGX has been the topic of a number of research reports. Oppenheimer upped 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. Truist Financial upped their price target on shares of argenx from $540.00 to $660.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. JPMorgan Chase & Co. lifted their price objective on shares of argenx from $640.00 to $670.00 and gave the stock an “overweight” rating in a research note on Monday, November 4th. Wolfe Research upgraded shares of argenx from a “peer perform” rating to an “outperform” rating and set a $697.00 target price on the stock in a research report on Tuesday, November 12th. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of argenx from a “buy” rating to a “hold” rating in a research report on Friday, October 4th. Three equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, argenx presently has a consensus rating of “Moderate Buy” and a consensus price target of $619.79.

argenx Stock Performance

The company has a market capitalization of $33.74 billion, a P/E ratio of -641.16 and a beta of 0.61. The firm’s fifty day moving average is $552.89 and its 200-day moving average is $481.96.

argenx (NASDAQ:ARGX) last posted 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 for the quarter, compared to analysts’ expectations of $543.29 million. During the same quarter in the previous year, the firm posted ($1.25) earnings per share. As a group, analysts expect that argenx SE will post 2.2 EPS for the current fiscal year.

Hedge Funds Weigh In On argenx

A number of institutional investors and hedge funds have recently bought and sold shares of ARGX. Blue Trust Inc. grew its holdings in shares of argenx by 620.0% during the second quarter. Blue Trust Inc. now owns 72 shares of the company’s stock worth $28,000 after purchasing an additional 62 shares during the last quarter. J.Safra Asset Management Corp raised its holdings in argenx by 590.0% in the 2nd quarter. J.Safra Asset Management Corp now owns 69 shares of the company’s stock valued at $30,000 after buying an additional 59 shares during the last quarter. GAMMA Investing LLC boosted its position in argenx by 51.3% during the 2nd quarter. GAMMA Investing LLC now owns 118 shares of the company’s stock worth $51,000 after buying an additional 40 shares during the period. Point72 Hong Kong Ltd bought a new stake in argenx during the 2nd quarter worth approximately $76,000. Finally, Cromwell Holdings LLC increased its position in argenx by 73.3% in the 3rd quarter. Cromwell Holdings LLC now owns 156 shares of the company’s stock valued at $85,000 after acquiring an additional 66 shares during the period. 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.