argenx (NASDAQ:ARGX) Stock Rating Lowered by Deutsche Bank Aktiengesellschaft

argenx (NASDAQ:ARGX) was downgraded by Deutsche Bank Aktiengesellschaft from a “buy” rating to a “hold” rating in a note issued to investors on Friday, Marketbeat Ratings reports.

A number of other equities analysts also recently weighed in on the stock. Truist Financial boosted their target price on shares of argenx from $480.00 to $540.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. Evercore ISI boosted their price objective on shares of argenx from $478.00 to $533.00 and gave the stock an “outperform” rating in a research report on Friday, July 12th. Guggenheim reiterated a “buy” rating and issued a $585.00 price objective on shares of argenx in a research report on Thursday, September 26th. William Blair reissued a “market perform” rating on shares of argenx in a research note on Monday, June 17th. Finally, HC Wainwright upped their price target on argenx from $504.00 to $533.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Four research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $543.28.

argenx Price Performance

NASDAQ ARGX opened at $529.95 on Friday. The stock’s 50 day simple moving average is $525.71 and its 200 day simple moving average is $443.21. argenx has a one year low of $327.73 and a one year high of $554.74. The firm has a market cap of $31.50 billion, a PE ratio of -93.63 and a beta of 0.63.

argenx (NASDAQ:ARGX) last announced 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 company had revenue of $489.43 million for the quarter, compared to analysts’ expectations of $436.66 million. During the same quarter in the prior year, the business earned ($1.69) earnings per share. As a group, equities analysts expect that argenx will post -0.37 earnings per share for the current year.

Institutional Investors Weigh In On argenx

Several large investors have recently modified their holdings of ARGX. The Manufacturers Life Insurance Company increased its stake in argenx by 9.1% during the 4th quarter. The Manufacturers Life Insurance Company now owns 47,583 shares of the company’s stock worth $18,102,000 after purchasing an additional 3,967 shares in the last quarter. AdvisorShares Investments LLC acquired a new stake in shares of argenx during the fourth quarter worth $486,000. RTW Investments LP lifted its position in argenx by 31.5% in the 4th quarter. RTW Investments LP now owns 667,195 shares of the company’s stock valued at $253,821,000 after acquiring an additional 160,000 shares in the last quarter. Seven Eight Capital LP acquired a new position in argenx in the 4th quarter worth $711,000. Finally, Sei Investments Co. boosted its stake in argenx by 16.0% in the 4th quarter. Sei Investments Co. now owns 332,017 shares of the company’s stock worth $126,309,000 after purchasing an additional 45,707 shares during the period. 60.32% of the stock is currently owned by institutional investors.

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.