argenx (NASDAQ:ARGX) Sees Unusually-High Trading Volume – What’s Next?

Shares of argenx SE (NASDAQ:ARGX) saw an uptick in trading volume on Tuesday . 178,130 shares traded hands during trading, a decline of 42% from the previous session’s volume of 307,727 shares.The stock last traded at $600.37 and had previously closed at $606.39.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. William Blair reissued an “outperform” rating on shares of argenx in a report on Friday, February 28th. HC Wainwright reiterated a “buy” rating and issued a $720.00 price target on shares of argenx in a research report on Tuesday, April 8th. Piper Sandler lifted their price objective on argenx from $620.00 to $725.00 and gave the company an “overweight” rating in a report on Tuesday, January 7th. Truist Financial reaffirmed a “buy” rating and issued a $700.00 target price (up previously from $660.00) on shares of argenx in a report on Tuesday, January 14th. Finally, Robert W. Baird lifted their price target on shares of argenx from $650.00 to $680.00 and gave the company a “neutral” rating in a report on Tuesday, March 4th. Three equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, argenx currently has an average rating of “Moderate Buy” and an average target price of $690.33.

argenx Stock Down 0.8 %

The firm has a market capitalization of $36.53 billion, a price-to-earnings ratio of -683.23 and a beta of 0.60. The company’s fifty day moving average is $606.57 and its two-hundred day moving average is $604.95.

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

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. FMR LLC boosted its position in shares of argenx by 17.2% during the fourth quarter. FMR LLC now owns 5,618,222 shares of the company’s stock worth $3,455,207,000 after purchasing an additional 824,750 shares in the last quarter. Capital World Investors increased its holdings in shares of argenx by 5.1% in the fourth quarter. Capital World Investors now owns 1,786,936 shares of the company’s stock worth $1,099,002,000 after acquiring an additional 86,687 shares in the last quarter. RTW Investments LP raised its position in shares of argenx by 2.9% during the fourth quarter. RTW Investments LP now owns 673,497 shares of the company’s stock worth $414,201,000 after purchasing an additional 19,067 shares during the period. Clearbridge Investments LLC lifted its holdings in shares of argenx by 6.8% during the 4th quarter. Clearbridge Investments LLC now owns 629,828 shares of the company’s stock valued at $387,344,000 after purchasing an additional 40,330 shares in the last quarter. Finally, Jennison Associates LLC grew its position in shares of argenx by 27.0% in the 4th quarter. Jennison Associates LLC now owns 302,149 shares of the company’s stock valued at $185,821,000 after purchasing an additional 64,183 shares during the period. Institutional investors and hedge funds 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.