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

Deutsche Bank Aktiengesellschaft upgraded shares of argenx (NASDAQ:ARGX) from a sell rating to a hold rating in a report issued on Wednesday, MarketBeat reports.

Other analysts have also recently issued research reports about the company. Guggenheim lifted their price target on argenx from $775.00 to $1,100.00 and gave the company a “buy” rating in a report on Monday, March 10th. Truist Financial restated a “buy” rating and issued a $700.00 target price (up from $660.00) on shares of argenx in a report on Tuesday, January 14th. Wells Fargo & Company upped their price target on shares of argenx from $723.00 to $741.00 and gave the stock an “overweight” rating in a research report on Friday, February 28th. William Blair reiterated an “outperform” rating on shares of argenx in a report on Friday, February 28th. Finally, Citigroup restated an “outperform” rating on shares of argenx in a report on Friday, February 28th. Three research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, argenx currently has a consensus rating of “Moderate Buy” and an average price target of $687.00.

argenx Stock Performance

Shares of ARGX opened at $604.96 on Wednesday. argenx has a 1 year low of $349.86 and a 1 year high of $678.21. The company’s 50 day simple moving average is $638.53 and its 200 day simple moving average is $595.17. The company has a market capitalization of $36.76 billion, a price-to-earnings ratio of -687.45 and a beta of 0.59.

argenx (NASDAQ:ARGX) last issued its quarterly earnings results on Thursday, February 27th. The company reported $1.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.98 by $0.60. The company had revenue of $761.22 million for the quarter, compared to analyst estimates of $678.52 million. argenx had a negative return on equity of 1.45% and a negative net margin of 2.11%. Equities analysts expect that argenx will post 3.13 EPS for the current fiscal year.

Hedge Funds Weigh In On argenx

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC lifted its stake in shares of argenx by 201.2% in the third quarter. Janney Montgomery Scott LLC now owns 2,072 shares of the company’s stock worth $1,123,000 after acquiring an additional 1,384 shares in the last quarter. Assetmark Inc. raised its position in shares of argenx by 8.3% in the 3rd quarter. Assetmark Inc. now owns 7,769 shares of the company’s stock valued at $4,211,000 after purchasing an additional 598 shares in the last quarter. Victory Capital Management Inc. boosted its stake in shares of argenx by 69.8% during the 3rd quarter. Victory Capital Management Inc. now owns 1,562 shares of the company’s stock valued at $847,000 after buying an additional 642 shares during the last quarter. Oppenheimer & Co. Inc. purchased a new position in shares of argenx during the 3rd quarter valued at approximately $453,000. Finally, OneDigital Investment Advisors LLC grew its position in shares of argenx by 13.2% during the third quarter. OneDigital Investment Advisors LLC now owns 1,194 shares of the company’s stock worth $647,000 after buying an additional 139 shares in the last quarter. 60.32% of the stock is owned by hedge funds and other 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.