argenex (NASDAQ:ARGX) Shares Gap Down – Here’s What Happened

argenex SE (NASDAQ:ARGX) gapped down before the market opened on Thursday. The stock had previously closed at $928.44, but opened at $831.23. argenex shares last traded at $809.3430, with a volume of 361,389 shares changing hands.

Wall Street Analysts Forecast Growth

ARGX has been the subject of several recent research reports. Wedbush restated an “outperform” rating and issued a $1,150.00 price objective on shares of argenex in a report on Thursday, September 3rd. Wells Fargo & Company increased their target price on shares of argenex from $1,350.00 to $1,415.00 and gave the stock an “overweight” rating in a report on Wednesday, August 26th. Weiss Ratings downgraded shares of argenex from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, July 23rd. Royal Bank Of Canada boosted their price target on shares of argenex from $1,025.00 to $1,100.00 and gave the company an “outperform” rating in a report on Tuesday, August 18th. Finally, Wall Street Zen downgraded shares of argenex from a “buy” rating to a “hold” rating in a research note on Saturday, September 19th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, argenex has an average rating of “Moderate Buy” and a consensus target price of $1,158.61.

argenex Stock Performance

The company has a market capitalization of $49.74 billion, a price-to-earnings ratio of 30.39, a PEG ratio of 0.97 and a beta of 0.44. The business’s 50 day moving average is $961.58 and its 200 day moving average is $875.40.

argenex (NASDAQ:ARGX) last announced its quarterly earnings data on Tuesday, July 21st. The company reported $7.32 earnings per share for the quarter, beating analysts’ consensus estimates of $5.86 by $1.46. argenex had a return on equity of 43.59% and a net margin of 32.19%.The business had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.45 billion. Sell-side analysts predict that argenex SE will post 28.83 EPS for the current year.

Institutional Investors Weigh In On argenex

Several hedge funds have recently modified their holdings of ARGX. Eastern Bank purchased a new position in argenex during the second quarter worth approximately $32,000. Whipplewood Advisors LLC purchased a new stake in shares of argenex in the first quarter valued at approximately $28,000. Axiom Investment Management LLC purchased a new stake in shares of argenex in the first quarter valued at approximately $50,000. WPG Advisers LLC raised its stake in shares of argenex by 17.8% during the 1st quarter. WPG Advisers LLC now owns 86 shares of the company’s stock worth $63,000 after buying an additional 13 shares during the period. Finally, Allworth Financial LP lifted its position in shares of argenex by 25.7% during the 2nd quarter. Allworth Financial LP now owns 142 shares of the company’s stock valued at $132,000 after buying an additional 29 shares in the last quarter. 60.32% of the stock is owned by hedge funds and other institutional investors.

About argenex

argenx SE (NASDAQ:ARGX) is a global immunology company focused on developing and commercializing therapies for patients with severe autoimmune diseases. The company combines antibody engineering technologies with disease biology to discover medicines that target the underlying mechanisms of immune-mediated disorders.

argenx’s leading product is efgartigimod, marketed as Vyvgart and Vyvgart Hytrulo in the United States. The therapies are designed to reduce disease-causing immunoglobulin G (IgG) antibodies by targeting the neonatal Fc receptor (FcRn).