argenx (NASDAQ:ARGX) Shares Gap Up – Here’s What Happened

argenx SE (NASDAQ:ARGX) shares gapped up prior to trading on Friday . The stock had previously closed at $546.22, but opened at $571.42. argenx shares last traded at $579.12, with a volume of 128,839 shares.

Analyst Ratings Changes

ARGX has been the subject of a number of recent research reports. HC Wainwright restated a “buy” rating and issued a $720.00 target price on shares of argenx in a research report on Tuesday, April 8th. Oppenheimer increased their target price on shares of argenx from $675.00 to $704.00 and gave the company an “outperform” rating in a report on Friday, February 28th. Deutsche Bank Aktiengesellschaft upgraded shares of argenx from a “sell” rating to a “hold” rating in a research report on Wednesday, March 12th. Sanford C. Bernstein raised argenx from a “market perform” rating to an “outperform” rating in a research note on Monday, March 17th. Finally, Truist Financial reiterated a “buy” rating and issued a $700.00 price objective (up previously 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 assigned 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 an average price target of $690.33.

argenx Trading Up 6.4 %

The stock has a 50 day simple moving average of $607.87 and a 200-day simple moving average of $603.90. The firm has a market cap of $35.30 billion, a PE ratio of -660.16 and a beta of 0.60.

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

Institutional Investors Weigh In On argenx

Institutional investors have recently modified their holdings of the stock. GeoWealth Management LLC increased its position in argenx by 56.3% during the fourth quarter. GeoWealth Management LLC now owns 50 shares of the company’s stock valued at $31,000 after acquiring an additional 18 shares during the last quarter. Steward Partners Investment Advisory LLC boosted its position in shares of argenx by 5.6% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 380 shares of the company’s stock valued at $234,000 after buying an additional 20 shares during the period. SG Americas Securities LLC grew its stake in shares of argenx by 6.2% during the fourth quarter. SG Americas Securities LLC now owns 358 shares of the company’s stock valued at $220,000 after buying an additional 21 shares during the last quarter. Farther Finance Advisors LLC raised its holdings in shares of argenx by 38.2% in the fourth quarter. Farther Finance Advisors LLC now owns 76 shares of the company’s stock worth $47,000 after buying an additional 21 shares during the period. Finally, Dynasty Wealth Management LLC lifted its stake in shares of argenx by 3.4% during the 4th quarter. Dynasty Wealth Management LLC now owns 677 shares of the company’s stock worth $416,000 after acquiring an additional 22 shares during the last quarter. 60.32% of the stock is owned by institutional investors.

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.