argenex (NASDAQ:ARGX) Cut to Hold at Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft cut shares of argenex (NASDAQ:ARGX) from a buy rating to a hold rating in a report published on Monday morning, Marketbeat Ratings reports.

Several other research analysts have also commented on the company. Wedbush boosted their price target on argenex from $1,050.00 to $1,150.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 18th. Citigroup raised their price objective on argenex from $1,152.00 to $1,182.00 and gave the company a “buy” rating in a research report on Tuesday, July 21st. Piper Sandler lifted their target price on argenex from $1,075.00 to $1,215.00 and gave the company an “overweight” rating in a research note on Monday, August 17th. Bank of America boosted their target price on shares of argenex from $1,016.00 to $1,088.00 and gave the stock a “buy” rating in a report on Thursday, July 2nd. Finally, Guggenheim initiated coverage on shares of argenex in a research report on Tuesday, August 4th. They set a “buy” rating and a $1,185.00 price target for the company. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $1,157.50.

argenex Stock Performance

NASDAQ ARGX opened at $1,047.10 on Monday. The company has a market cap of $65.51 billion, a PE ratio of 40.21, a P/E/G ratio of 1.06 and a beta of 0.46. The firm’s 50 day moving average price is $903.60 and its 200-day moving average price is $831.06. argenex has a 52-week low of $661.85 and a 52-week high of $1,058.69.

argenex (NASDAQ:ARGX) last issued its quarterly earnings data on Tuesday, July 21st. The company reported $7.32 EPS for the quarter, topping analysts’ consensus estimates of $5.86 by $1.46. The company had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.45 billion. argenex had a net margin of 32.19% and a return on equity of 43.59%. On average, analysts forecast that argenex will post 29.04 earnings per share for the current fiscal year.

Institutional Trading of argenex

Several large investors have recently bought and sold shares of ARGX. HB Wealth Management LLC increased its stake in argenex by 15.2% during the 2nd quarter. HB Wealth Management LLC now owns 424 shares of the company’s stock valued at $394,000 after purchasing an additional 56 shares in the last quarter. Nilsine Partners LLC lifted its stake in shares of argenex by 4.3% during the second quarter. Nilsine Partners LLC now owns 4,302 shares of the company’s stock worth $3,991,000 after buying an additional 176 shares during the period. Syon Capital LLC lifted its stake in shares of argenex by 4.2% during the second quarter. Syon Capital LLC now owns 1,017 shares of the company’s stock worth $944,000 after buying an additional 41 shares during the period. denkapparat Operations GmbH grew its holdings in shares of argenex by 126.4% during the second quarter. denkapparat Operations GmbH now owns 910 shares of the company’s stock valued at $844,000 after buying an additional 508 shares during the last quarter. Finally, Concurrent Investment Advisors LLC grew its holdings in shares of argenex by 36.9% during the second quarter. Concurrent Investment Advisors LLC now owns 375 shares of the company’s stock valued at $347,000 after buying an additional 101 shares during the last quarter. Hedge funds and other institutional investors own 60.32% of the company’s stock.

argenex Company Profile

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.