argenex (NASDAQ:ARGX) Stock Price Down 6% – Should You Sell?
by Doug Wharley · The Cerbat Gemargenex SE (NASDAQ:ARGX – Get Free Report)’s stock price fell 6% on Monday . The company traded as low as $791.62 and last traded at $789.2250. 401,703 shares traded hands during trading, an increase of 36% from the average session volume of 296,118 shares. The stock had previously closed at $839.99.
Wall Street Analysts Forecast Growth
Several analysts have recently issued reports on ARGX shares. Truist Financial boosted their price target on shares of argenex from $700.00 to $918.00 and gave the company a “buy” rating in a research report on Monday, September 15th. Wall Street Zen upgraded shares of argenex from a “hold” rating to a “buy” rating in a research note on Friday, October 3rd. Guggenheim restated a “buy” rating and set a $1,070.00 target price on shares of argenex in a research report on Thursday, September 18th. Piper Sandler raised their price target on argenex from $820.00 to $930.00 and gave the stock an “overweight” rating in a report on Tuesday, November 4th. Finally, Deutsche Bank Aktiengesellschaft cut argenex from a “buy” rating to a “hold” rating in a research report on Thursday, September 11th. One analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $982.33.
View Our Latest Report on argenex
argenex Price Performance
The firm has a market capitalization of $49.31 billion, a PE ratio of 34.39, a P/E/G ratio of 0.53 and a beta of 0.38. The business’s 50 day moving average is $872.94 and its two-hundred day moving average is $747.23.
argenex (NASDAQ:ARGX – Get Free Report) last released its quarterly earnings results on Thursday, October 30th. The company reported $4.40 EPS for the quarter, topping analysts’ consensus estimates of $4.37 by $0.03. The business had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.07 billion. argenex had a net margin of 41.58% and a return on equity of 29.78%. Analysts expect that argenex SE will post 3.13 EPS for the current fiscal year.
Institutional Investors Weigh In On argenex
Large investors have recently added to or reduced their stakes in the company. Ameriflex Group Inc. purchased a new position in shares of argenex in the 3rd quarter worth about $32,000. Sunbelt Securities Inc. bought a new stake in argenex in the 3rd quarter worth approximately $36,000. Bessemer Group Inc. boosted its stake in argenex by 276.5% in the third quarter. Bessemer Group Inc. now owns 64 shares of the company’s stock worth $47,000 after buying an additional 47 shares in the last quarter. MAI Capital Management grew its position in argenex by 866.7% during the second quarter. MAI Capital Management now owns 87 shares of the company’s stock valued at $48,000 after acquiring an additional 78 shares during the last quarter. Finally, Mather Group LLC. purchased a new position in shares of argenex during the third quarter worth approximately $50,000. Hedge funds and other institutional investors own 60.32% of the company’s stock.
About argenex
argenx (NASDAQ: ARGX) is a biotechnology company focused on the discovery, development and commercialization of antibody-based therapeutics for severe autoimmune and neuromuscular diseases. The company uses its proprietary SIMPLE Antibody platform to generate differentiated antibodies and engineered Fc regions, and it pursues mechanisms that modulate the neonatal Fc receptor (FcRn) to reduce pathogenic IgG levels. Argenx’s research and development activities span target identification, preclinical development and late-stage clinical programs aimed at addressing unmet needs in immunology.
The company’s lead product, efgartigimod (marketed as Vyvgart), is an FcRn antagonist developed to reduce circulating IgG antibodies and treat IgG-mediated disorders.