argenex (NASDAQ:ARGX) Lowered to “Hold” Rating by Deutsche Bank Aktiengesellschaft

argenex (NASDAQ:ARGX) was downgraded by research analysts at Deutsche Bank Aktiengesellschaft from a “buy” rating to a “hold” rating in a report released on Monday.

Other analysts have also issued research reports about the company. Wells Fargo & Company increased their price objective on argenex from $1,260.00 to $1,291.00 and gave the company an “overweight” rating in a research note on Monday, June 1st. Piper Sandler upped their price target on shares of argenex from $1,075.00 to $1,215.00 and gave the company an “overweight” rating in a report on Monday, August 17th. Robert W. Baird raised their price target on shares of argenex from $867.00 to $932.00 and gave the stock a “neutral” rating in a report on Monday, July 27th. Oppenheimer boosted their price objective on shares of argenex from $1,014.00 to $1,037.00 and gave the company an “outperform” rating in a research report on Friday, July 24th. Finally, Morgan Stanley increased their target price on shares of argenex from $1,200.00 to $1,230.00 and gave the stock an “overweight” rating in a report on Tuesday, August 18th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,118.28.

argenex Stock Performance

NASDAQ:ARGX traded down $34.66 during trading hours on Monday, reaching $1,005.12. The company’s stock had a trading volume of 117,543 shares, compared to its average volume of 347,506. The firm has a market capitalization of $62.88 billion, a price-to-earnings ratio of 38.68, a PEG ratio of 1.08 and a beta of 0.46. The firm has a 50-day simple moving average of $895.14 and a 200-day simple moving average of $827.15. argenex has a 1 year low of $661.85 and a 1 year high of $1,058.69.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Oppenheimer & Co. Inc. raised its position in argenex by 2.8% during the 4th quarter. Oppenheimer & Co. Inc. now owns 442 shares of the company’s stock worth $372,000 after buying an additional 12 shares during the last quarter. Valeo Financial Advisors LLC raised its stake in shares of argenex by 0.9% during the 4th quarter. Valeo Financial Advisors LLC now owns 1,372 shares of the company’s stock worth $1,153,000 after buying an additional 12 shares in the last quarter. CI Investments Inc. lifted its holdings in shares of argenex by 2.6% in the 4th quarter. CI Investments Inc. now owns 469 shares of the company’s stock valued at $394,000 after buying an additional 12 shares during the period. Allworth Financial LP grew its holdings in argenex by 12.7% during the fourth quarter. Allworth Financial LP now owns 115 shares of the company’s stock worth $97,000 after acquiring an additional 13 shares during the period. Finally, WPG Advisers LLC lifted its holdings in argenex by 17.8% in the first quarter. WPG Advisers LLC now owns 86 shares of the company’s stock valued at $63,000 after acquiring an additional 13 shares during the period. Hedge funds and other institutional investors own 60.32% of the company’s stock.

About argenex

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.