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

Key Points

• Deutsche Bank downgraded argenex from “Buy” to “Hold.” Despite the downgrade, the analyst consensus remains “Moderate Buy,” with an average price target of $1,118.28.
• argenex shares fell $34.66 to $1,005.12 in Monday trading, while remaining near their 52-week high of $1,058.69. The stock has risen above both its 50-day and 200-day moving averages.
• The company exceeded quarterly expectations, reporting $7.32 in earnings per share versus the $5.86 estimate and $1.54 billion in revenue versus the $1.45 billion consensus.

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 on Monday.

A number of other research analysts have also recently issued reports on the stock. Bank of America lifted their price objective on shares of argenex from $1,016.00 to $1,088.00 and gave the company a "buy" rating in a research note on Thursday, July 2nd. Weiss Ratings downgraded shares of argenex from a "hold (c+)" rating to a "hold (c)" rating in a research note on Thursday, July 23rd. Wall Street Zen lowered shares of argenex from a "buy" rating to a "hold" rating in a report on Saturday, August 15th. Oppenheimer increased 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 note on Friday, July 24th. Finally, Robert W. Baird raised their target price on shares of argenex from $867.00 to $932.00 and gave the company a "neutral" rating in a research report on Monday, July 27th. Two analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, argenex presently has an average rating of "Moderate Buy" and a consensus target price of $1,118.28.

argenex Stock Performance

Shares of NASDAQ ARGX traded down $34.66 during trading hours on Monday, reaching $1,005.12. 117,543 shares of the stock were exchanged, 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 P/E/G ratio of 1.08 and a beta of 0.46. The stock's fifty day simple moving average is $895.14 and its 200 day simple moving average is $827.15. argenex has a 52 week low of $661.85 and a 52 week high of $1,058.69.

argenex (NASDAQ:ARGX - Get Free Report) last posted its quarterly earnings data on Tuesday, July 21st. The company reported $7.32 earnings per share for the quarter, topping the consensus estimate of $5.86 by $1.46. The firm had revenue of $1.54 billion for the quarter, compared to analysts' expectations of $1.45 billion. argenex had a return on equity of 43.59% and a net margin of 32.19%. Research analysts predict that argenex will post 29.04 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. PNC Financial Services Group Inc. raised its holdings in shares of argenex by 65.8% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,226 shares of the company's stock valued at $2,713,000 after acquiring an additional 1,280 shares in the last quarter. M&T Bank Corp grew its stake in argenex by 34.8% in the 4th quarter. M&T Bank Corp now owns 4,980 shares of the company's stock worth $4,188,000 after buying an additional 1,286 shares in the last quarter. Peregrine Capital Management LLC bought a new position in shares of argenex in the 2nd quarter worth $27,584,000. UBS Group AG raised its position in shares of argenex by 12.3% during the 4th quarter. UBS Group AG now owns 60,384 shares of the company's stock valued at $50,780,000 after buying an additional 6,591 shares in the last quarter. Finally, Bessemer Group Inc. raised its position in argenex by 2.7% during the first quarter. Bessemer Group Inc. now owns 64,251 shares of the company's stock valued at $46,920,000 after purchasing an additional 1,714 shares in the last quarter. 60.32% of the stock is owned by institutional investors.

argenex Company Profile

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.

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