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

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

Other equities research analysts also recently issued research reports about the company. Robert W. Baird increased their price objective on argenx from $490.00 to $515.00 and gave the company an “outperform” rating in a report on Monday, July 29th. Piper Sandler lifted 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. JPMorgan Chase & Co. boosted their price objective on shares of argenx from $500.00 to $640.00 and gave the stock an “overweight” rating in a research note on Friday, August 23rd. Barclays raised shares of argenx from an “equal weight” rating to an “overweight” rating in a report on Tuesday, August 6th. Finally, Wells Fargo & Company lifted their price target on argenx from $543.00 to $547.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Four investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $543.28.

argenx Trading Down 2.4 %

Shares of ARGX stock opened at $529.95 on Friday. The firm’s fifty day moving average price is $525.71 and its two-hundred day moving average price is $443.21. argenx has a 1 year low of $327.73 and a 1 year high of $554.74. The firm has a market capitalization of $31.50 billion, a P/E ratio of -93.63 and a beta of 0.63.

argenx (NASDAQ:ARGX) last released its earnings results on Thursday, July 25th. The company reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $436.66 million. During the same quarter in the previous year, the business earned ($1.69) earnings per share. As a group, equities research analysts forecast that argenx will post -0.37 EPS for the current fiscal year.

Institutional Trading of argenx

Institutional investors have recently bought and sold shares of the business. Handelsbanken Fonder AB increased its holdings in shares of argenx by 0.8% during the third quarter. Handelsbanken Fonder AB now owns 27,642 shares of the company’s stock worth $14,984,000 after purchasing an additional 224 shares during the period. Sanctuary Advisors LLC bought a new position in argenx during the 2nd quarter worth $755,000. Clearbridge Investments LLC raised its holdings in argenx by 3.6% in the 2nd quarter. Clearbridge Investments LLC now owns 617,466 shares of the company’s stock valued at $265,535,000 after acquiring an additional 21,189 shares in the last quarter. Perceptive Advisors LLC acquired a new position in argenx in the 2nd quarter valued at $6,709,000. Finally, Creative Planning lifted its position in shares of argenx by 15.5% during the 2nd quarter. Creative Planning now owns 3,528 shares of the company’s stock valued at $1,517,000 after acquiring an additional 474 shares during the period. Institutional investors own 60.32% of the company’s stock.

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.