argenx SE (NASDAQ:ARGX – Get Free Report) shares hit a new 52-week low during mid-day trading on Thursday after HC Wainwright lowered their price target on the stock from $582.00 to $451.00. HC Wainwright currently has a buy rating on the stock. argenx traded as low as $328.93 and last traded at $330.26, with a volume of 338911 shares changing hands. The stock had previously closed at $338.91.
Several other equities analysts have also weighed in on ARGX. William Blair lowered shares of argenx from an “outperform” rating to a “market perform” rating in a research report on Wednesday. Stifel Nicolaus upped their price objective on shares of argenx from $557.00 to $560.00 and gave the company a “buy” rating in a research note on Monday. Piper Sandler upped their price objective on shares of argenx from $595.00 to $600.00 and gave the company an “overweight” rating in a research note on Thursday, August 31st. Morgan Stanley reduced their price objective on shares of argenx from $607.00 to $586.00 and set an “overweight” rating for the company in a research note on Thursday, November 30th. Finally, Deutsche Bank Aktiengesellschaft lowered shares of argenx from a “buy” rating to a “hold” rating in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, four have given a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $534.09.
Hedge Funds Weigh In On argenx
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Hudson Bay Capital Management LP grew its holdings in argenx by 84.1% during the third quarter. Hudson Bay Capital Management LP now owns 68,003 shares of the company’s stock valued at $33,432,000 after purchasing an additional 31,067 shares during the last quarter. TimesSquare Capital Management LLC grew its holdings in argenx by 12.2% during the third quarter. TimesSquare Capital Management LLC now owns 101,750 shares of the company’s stock valued at $50,023,000 after purchasing an additional 11,060 shares during the last quarter. Creative Planning grew its holdings in argenx by 55.7% during the third quarter. Creative Planning now owns 2,635 shares of the company’s stock valued at $1,295,000 after purchasing an additional 943 shares during the last quarter. Townsquare Capital LLC grew its holdings in argenx by 96.6% during the third quarter. Townsquare Capital LLC now owns 3,442 shares of the company’s stock valued at $1,692,000 after purchasing an additional 1,691 shares during the last quarter. Finally, Royal Bank of Canada grew its holdings in argenx by 5.6% during the third quarter. Royal Bank of Canada now owns 24,212 shares of the company’s stock valued at $11,902,000 after purchasing an additional 1,282 shares during the last quarter. Institutional investors own 52.77% of the company’s stock.
argenx Price Performance
The firm has a fifty day simple moving average of $473.27 and a 200 day simple moving average of $469.85. The company has a market cap of $19.59 billion, a price-to-earnings ratio of -80.08 and a beta of 0.72.
argenx (NASDAQ:ARGX – Get Free Report) last announced its quarterly earnings results on Tuesday, October 31st. The company reported ($1.25) EPS for the quarter, beating the consensus estimate of ($1.48) by $0.23. argenx had a negative return on equity of 16.54% and a negative net margin of 22.70%. The company had revenue of $339.84 million for the quarter, compared to the consensus estimate of $310.06 million. During the same quarter last year, the company posted ($4.26) earnings per share. Analysts expect that argenx SE will post -4.81 earnings per share for the current year.
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, the Netherlands, Belgium, Japan, Switzerland, Germany, France, Canada, the United Kingdom, and Italy. Its lead product candidate is efgartigimod for the treatment of patients with myasthenia gravis, immune thrombocytopenia, pemphigus vulgaris, pemphigus foliaceus, chronic inflammatory demyelinating polyneuropathy, bullous pemphigoid, and idiopathic inflammatory myopathy; and ENHANZE SC.