Deutsche Bank Aktiengesellschaft Downgrades argenx (NASDAQ:ARGX) to Hold

Deutsche Bank Aktiengesellschaft cut shares of argenx (NASDAQ:ARGX) from a buy rating to a hold rating in a research report sent to investors on Friday, Marketbeat reports.

A number of other research analysts also recently issued reports on ARGX. HC Wainwright boosted their target price on shares of argenx from $504.00 to $533.00 and gave the company a buy rating in a research report on Friday, July 26th. Wedbush increased their price objective on shares of argenx from $519.00 to $560.00 and gave the stock an outperform rating in a research report on Friday, July 26th. Robert W. Baird boosted their target price on argenx from $490.00 to $515.00 and gave the company an outperform rating in a research report on Monday, July 29th. Barclays upgraded argenx from an equal weight rating to an overweight rating in a report on Tuesday, August 6th. Finally, Oppenheimer raised argenx from a market perform rating to an outperform rating and set a $546.00 target price on the stock in a research report on Tuesday, July 23rd. Four analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, argenx presently has an average rating of Moderate Buy and an average price target of $543.28.

argenx Trading Down 1.4 %

Shares of argenx stock opened at $522.79 on Friday. The business has a 50-day moving average price of $526.18 and a two-hundred day moving average price of $445.29. argenx has a 1-year low of $327.73 and a 1-year high of $554.74. The company has a market cap of $31.07 billion, a P/E ratio of -92.37 and a beta of 0.63.

argenx (NASDAQ:ARGX) last released its earnings results on Thursday, July 25th. The company reported $0.45 EPS for the quarter, topping the consensus estimate of ($0.89) by $1.34. argenx had a negative return on equity of 7.33% and a negative net margin of 12.31%. The business had revenue of $489.43 million during the quarter, compared to analysts’ expectations of $436.66 million. During the same quarter last year, the firm posted ($1.69) earnings per share. Equities research analysts forecast that argenx will post -0.37 EPS for the current fiscal year.

Institutional Investors Weigh In On argenx

Hedge funds have recently made changes to their positions in the business. Price T Rowe Associates Inc. MD raised its position in argenx by 49.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 5,504,506 shares of the company’s stock worth $2,167,235,000 after acquiring an additional 1,830,651 shares during the period. Janus Henderson Group PLC lifted its stake in argenx by 24.8% in the first quarter. Janus Henderson Group PLC now owns 2,216,648 shares of the company’s stock valued at $872,690,000 after purchasing an additional 439,889 shares during the last quarter. Avoro Capital Advisors LLC lifted its stake in argenx by 23.5% in the fourth quarter. Avoro Capital Advisors LLC now owns 1,234,567 shares of the company’s stock valued at $469,666,000 after purchasing an additional 234,567 shares during the last quarter. RTW Investments LP grew its holdings in argenx by 31.5% during the fourth quarter. RTW Investments LP now owns 667,195 shares of the company’s stock valued at $253,821,000 after purchasing an additional 160,000 shares during the period. Finally, Clearbridge Investments LLC increased its position in argenx by 36.5% in the first quarter. Clearbridge Investments LLC now owns 596,277 shares of the company’s stock worth $234,766,000 after buying an additional 159,480 shares during the last quarter. 60.32% of the stock is currently owned by institutional investors.

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.