argenex (NASDAQ:ARGX) Downgraded to "Hold" Rating by Deutsche Bank Aktiengesellschaft

Key Points

• Deutsche Bank Aktiengesellschaft has downgraded argenex from a "buy" rating to a "hold" rating, indicating a shift in analysts' outlook on the stock.
• Despite the downgrade, several other analysts have maintained or improved their ratings, with a majority giving argenex a "buy" rating and an average target price of $772.84.
• The stock's recent performance has seen it traded down to $756.94, with a market capitalization of $46.32 billion and analysts predicting 3.13 EPS for the current fiscal year.

argenex (NASDAQ:ARGX - Get Free Report) was downgraded by research analysts at Deutsche Bank Aktiengesellschaft from a "buy" rating to a "hold" rating in a research note issued to investors on Thursday,Briefing.com Automated Import reports.

Other research analysts have also recently issued research reports about the company. HC Wainwright raised their target price on argenex from $720.00 to $774.00 and gave the company a "buy" rating in a research note on Friday, August 1st. Bank of America lifted their price target on shares of argenex from $880.00 to $887.00 and gave the company a "buy" rating in a research report on Tuesday, September 2nd. JPMorgan Chase & Co. lifted their price target on shares of argenex from $775.00 to $830.00 and gave the company an "overweight" rating in a research report on Monday, August 4th. Citigroup reissued a "buy" rating on shares of argenex in a research report on Wednesday, May 21st. Finally, Guggenheim lifted their price target on shares of argenex from $1,060.00 to $1,070.00 and gave the company a "buy" rating in a research report on Friday, August 1st. Two equities research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $772.84.

argenex Price Performance

ARGX traded down $5.95 during trading on Thursday, hitting $756.94. 181,847 shares of the stock traded hands, compared to its average volume of 375,196. The firm has a market capitalization of $46.32 billion, a P/E ratio of 38.82, a price-to-earnings-growth ratio of 0.82 and a beta of 0.41. The firm has a 50-day moving average of $641.07 and a 200 day moving average of $605.15. argenex has a 12-month low of $510.05 and a 12-month high of $779.03.

argenex (NASDAQ:ARGX - Get Free Report) last posted its earnings results on Thursday, July 31st. The company reported $3.74 EPS for the quarter, topping the consensus estimate of $2.84 by $0.90. argenex had a net margin of 40.98% and a return on equity of 21.06%. The firm had revenue of $866.79 million during the quarter, compared to analysts' expectations of $776.82 million. As a group, equities analysts predict that argenex will post 3.13 EPS for the current fiscal year.

Institutional Investors Weigh In On argenex

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Greenleaf Trust increased its stake in shares of argenex by 3.5% in the first quarter. Greenleaf Trust now owns 624 shares of the company's stock worth $369,000 after acquiring an additional 21 shares during the period. Rakuten Securities Inc. grew its position in shares of argenex by 56.4% in the first quarter. Rakuten Securities Inc. now owns 61 shares of the company's stock valued at $36,000 after purchasing an additional 22 shares during the period. Sequoia Financial Advisors LLC grew its position in shares of argenex by 1.3% in the first quarter. Sequoia Financial Advisors LLC now owns 1,829 shares of the company's stock valued at $1,083,000 after purchasing an additional 24 shares during the period. Main Management ETF Advisors LLC grew its position in shares of argenex by 1.7% in the second quarter. Main Management ETF Advisors LLC now owns 1,466 shares of the company's stock valued at $808,000 after purchasing an additional 24 shares during the period. Finally, M&T Bank Corp grew its position in shares of argenex by 0.6% in the first quarter. M&T Bank Corp now owns 4,296 shares of the company's stock valued at $2,542,000 after purchasing an additional 27 shares during the period. Hedge funds and other institutional investors own 60.32% of the company's stock.

About argenex

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.

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