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

argenx SE (NASDAQ:ARGX - Get Free Report) gapped down prior to trading 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 changing hands.

Analysts Set New Price Targets

ARGX has been the topic of several analyst reports. Robert W. Baird downgraded argenx from an "outperform" rating to a "neutral" rating and increased their price target for the stock from $515.00 to $650.00 in a research report on Friday, November 1st. Baird R W cut argenx from a "strong-buy" rating to a "hold" rating in a research report on Friday, November 1st. Deutsche Bank Aktiengesellschaft lowered argenx from a "buy" rating to a "hold" rating in a research report on Friday, October 4th. Scotiabank raised shares of argenx from a "sector perform" rating to a "sector outperform" rating and lifted their target price for the company from $439.00 to $715.00 in a report on Tuesday, November 5th. Finally, Guggenheim increased their price target on shares of argenx from $585.00 to $665.00 and gave the stock a "buy" rating in a report on Friday, November 1st. Three investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $619.79.

argenx Trading Down 5.2 %

The stock has a market capitalization of $33.74 billion, a price-to-earnings ratio of -641.16 and a beta of 0.61. The stock's 50 day moving average is $552.89 and its 200 day moving average is $481.22.

argenx (NASDAQ:ARGX - Get Free Report) last posted its earnings results on Thursday, October 31st. The company reported $1.39 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.10 by $1.29. The firm had revenue of $588.88 million for the quarter, compared to analyst estimates of $543.29 million. argenx had a negative return on equity of 1.45% and a negative net margin of 2.11%. During the same quarter in the prior year, the company earned ($1.25) EPS. On average, sell-side analysts anticipate that argenx SE will post 2.2 EPS for the current year.

Hedge Funds Weigh In On argenx

A number of large investors have recently bought and sold shares of the stock. Seven Eight Capital LP lifted its position in argenx by 66.4% during the first quarter. Seven Eight Capital LP now owns 3,110 shares of the company's stock valued at $1,224,000 after buying an additional 1,241 shares in the last quarter. Clearbridge Investments LLC boosted its position in shares of argenx by 36.5% in the first quarter. Clearbridge Investments LLC now owns 596,277 shares of the company's stock worth $234,766,000 after buying an additional 159,480 shares during the period. Fiera Capital Corp grew its stake in shares of argenx by 2.2% in the second quarter. Fiera Capital Corp now owns 165,595 shares of the company's stock valued at $71,212,000 after buying an additional 3,506 shares in the last quarter. Cetera Advisors LLC purchased a new stake in shares of argenx during the 1st quarter valued at about $419,000. Finally, Perpetual Ltd acquired a new position in argenx during the 3rd quarter worth approximately $76,314,000. 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.