argenx (NASDAQ:ARGX) Shares Gap Up - Still a Buy?

argenx SE (NASDAQ:ARGX - Get Free Report)'s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $578.31, but opened at $590.30. argenx shares last traded at $589.13, with a volume of 58,123 shares.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on ARGX shares. HC Wainwright reiterated a "buy" rating and issued a $720.00 price objective on shares of argenx in a research note on Tuesday, April 8th. Wells Fargo & Company upped their price target on shares of argenx from $723.00 to $741.00 and gave the company an "overweight" rating in a report on Friday, February 28th. Citigroup reaffirmed a "buy" rating on shares of argenx in a research report on Wednesday, May 21st. Robert W. Baird raised argenx from a "neutral" rating to an "outperform" rating and set a $680.00 price objective for the company in a report on Tuesday, May 13th. Finally, Oppenheimer raised their target price on argenx from $704.00 to $708.00 and gave the stock an "outperform" rating in a report on Friday, May 9th. One equities research analyst has rated the stock with a hold rating, twenty have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, argenx has an average rating of "Buy" and a consensus price target of $698.11.

argenx Stock Performance

The firm has a 50 day moving average of $589.78 and a 200-day moving average of $613.14. The stock has a market capitalization of $35.88 billion, a PE ratio of -667.74 and a beta of 0.57.

argenx (NASDAQ:ARGX - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported $2.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.32 by $0.26. argenx had a negative return on equity of 1.45% and a negative net margin of 2.11%. The company had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $748.34 million. On average, sell-side analysts predict that argenx SE will post 3.13 earnings per share for the current year.

Institutional Trading of argenx

A number of hedge funds have recently modified their holdings of the company. Point72 Europe London LLP acquired a new position in argenx in the fourth quarter worth about $5,839,000. Stephens Inc. AR bought a new stake in shares of argenx in the 4th quarter valued at approximately $310,000. Jones Financial Companies Lllp grew its stake in shares of argenx by 1,016.7% in the 4th quarter. Jones Financial Companies Lllp now owns 67 shares of the company's stock valued at $41,000 after purchasing an additional 61 shares during the period. Atomi Financial Group Inc. acquired a new position in shares of argenx in the 4th quarter worth approximately $339,000. Finally, Wilmington Savings Fund Society FSB lifted its position in shares of argenx by 47.8% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 1,776 shares of the company's stock worth $1,092,000 after buying an additional 574 shares during the period. Institutional investors own 60.32% of the company's stock.

About argenx

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.