Deutsche Bank Aktiengesellschaft Upgrades argenx (NASDAQ:ARGX) to Buy

argenx (NASDAQ:ARGX) was upgraded by analysts at Deutsche Bank Aktiengesellschaft from a “hold” rating to a “buy” rating in a research report issued on Thursday, MarketBeat Ratings reports.

Several other equities research analysts have also recently issued reports on ARGX. Stifel Nicolaus lifted their target price on shares of argenx from $485.00 to $500.00 and gave the stock a “buy” rating in a research note on Monday, June 24th. Piper Sandler boosted their price target on shares of argenx from $522.00 to $535.00 and gave the stock an “overweight” rating in a research report on Monday, June 24th. Wells Fargo & Company increased their price objective on shares of argenx from $478.00 to $542.00 and gave the company an “overweight” rating in a report on Monday, June 24th. Evercore ISI boosted their target price on argenx from $478.00 to $533.00 and gave the stock an “outperform” rating in a report on Friday, July 12th. Finally, Morgan Stanley cut their price target on argenx from $515.00 to $510.00 and set an “overweight” rating for the company in a report on Tuesday, May 28th. Three investment 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 currently has a consensus rating of “Moderate Buy” and an average price target of $539.05.

argenx Trading Up 1.7 %

Shares of argenx stock opened at $494.46 on Thursday. argenx has a twelve month low of $327.73 and a twelve month high of $532.59. The firm has a market capitalization of $29.39 billion, a PE ratio of -87.36 and a beta of 0.64. The firm’s 50-day moving average price is $413.06 and its 200 day moving average price is $394.35.

argenx (NASDAQ:ARGX) last released its earnings results on Thursday, July 25th. The company reported $0.45 earnings per share for the quarter, beating the consensus estimate of ($0.89) by $1.34. The business had revenue of $489.43 million for the quarter, compared to the consensus estimate of $436.66 million. argenx had a negative return on equity of 14.14% and a negative net margin of 22.58%. During the same quarter last year, the business posted ($1.69) earnings per share. On average, sell-side analysts predict that argenx will post -2.88 EPS for the current fiscal year.

Institutional Investors Weigh In On argenx

A number of institutional investors have recently modified their holdings of the company. J.Safra Asset Management Corp lifted its stake in argenx by 590.0% during the 2nd quarter. J.Safra Asset Management Corp now owns 69 shares of the company’s stock worth $30,000 after acquiring an additional 59 shares in the last quarter. Blue Trust Inc. increased its stake in argenx by 620.0% during the second quarter. Blue Trust Inc. now owns 72 shares of the company’s stock worth $28,000 after purchasing an additional 62 shares during the period. GAMMA Investing LLC lifted its position in shares of argenx by 420.0% during the first quarter. GAMMA Investing LLC now owns 78 shares of the company’s stock worth $31,000 after purchasing an additional 63 shares in the last quarter. Mather Group LLC. purchased a new position in shares of argenx in the first quarter valued at approximately $38,000. Finally, Benjamin F. Edwards & Company Inc. acquired a new position in shares of argenx in the fourth quarter valued at approximately $60,000. 60.32% of the stock is owned by institutional investors and hedge funds.

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.