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

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

ARGX has been the subject of a number of other reports. Wells Fargo & Company increased their price target on argenx from $478.00 to $542.00 and gave the company an “overweight” rating in a research note on Monday, June 24th. JPMorgan Chase & Co. lowered their target price on argenx from $560.00 to $500.00 and set an “overweight” rating for the company in a research report on Monday, May 13th. Stifel Nicolaus boosted their price target on shares of argenx from $485.00 to $500.00 and gave the stock a “buy” rating in a research report on Monday, June 24th. Piper Sandler increased their price objective on shares of argenx from $522.00 to $535.00 and gave the company an “overweight” rating in a research report on Monday, June 24th. Finally, Bank of America reissued a “buy” rating and issued a $607.00 price objective (up from $535.00) on shares of argenx in a research note on Monday, June 24th. Three analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $539.05.

argenx Stock Performance

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

argenx (NASDAQ:ARGX) last announced its quarterly 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. The business had revenue of $489.43 million for the quarter, compared to analysts’ expectations of $436.66 million. argenx had a negative net margin of 22.58% and a negative return on equity of 14.14%. During the same quarter in the previous year, the company earned ($1.69) EPS. On average, research analysts predict that argenx will post -2.88 EPS for the current fiscal year.

Institutional Trading of argenx

Several institutional investors and hedge funds have recently made changes to their positions in the business. Blue Trust Inc. increased its stake in argenx by 620.0% in the 2nd quarter. Blue Trust Inc. now owns 72 shares of the company’s stock worth $28,000 after buying an additional 62 shares during the period. J.Safra Asset Management Corp increased its position in shares of argenx by 590.0% during the second quarter. J.Safra Asset Management Corp now owns 69 shares of the company’s stock worth $30,000 after acquiring an additional 59 shares during the period. GAMMA Investing LLC boosted its holdings in shares of argenx by 420.0% in the first quarter. GAMMA Investing LLC now owns 78 shares of the company’s stock valued at $31,000 after purchasing an additional 63 shares during the period. Mather Group LLC. bought a new position in argenx in the first quarter worth approximately $38,000. Finally, Benjamin F. Edwards & Company Inc. purchased a new position in argenx during the 4th quarter worth $60,000. 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.