argenex (NASDAQ:ARGX) Upgraded by Deutsche Bank Aktiengesellschaft to "Buy" Rating

argenex (NASDAQ:ARGX - Get Free Report) was upgraded by research analysts at Deutsche Bank Aktiengesellschaft from a "hold" rating to a "buy" rating in a research report issued to clients and investors on Tuesday, Marketbeat Ratings reports.

Several other equities analysts have also recently issued reports on the company. Sanford C. Bernstein raised argenex from a "market perform" rating to an "outperform" rating in a research note on Monday, March 17th. Robert W. Baird raised argenex from a "neutral" rating to an "outperform" rating and set a $680.00 price target on the stock in a research note on Tuesday, May 13th. HC Wainwright reaffirmed a "buy" rating and issued a $720.00 price target on shares of argenex in a research note on Tuesday, July 1st. Guggenheim reduced their price target on argenex from $1,100.00 to $1,065.00 and set a "buy" rating on the stock in a research note on Friday, May 9th. Finally, JMP Securities set a $699.00 price target on argenex in a research note on Wednesday, May 14th. Nineteen investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, argenex currently has a consensus rating of "Buy" and an average price target of $728.06.

argenex Price Performance

argenex stock traded down $3.07 during trading hours on Tuesday, reaching $560.24. The company had a trading volume of 248,404 shares, compared to its average volume of 333,143. argenex has a 12-month low of $457.42 and a 12-month high of $678.21. The firm has a market cap of $34.21 billion, a price-to-earnings ratio of 34.56, a P/E/G ratio of 1.03 and a beta of 0.37. The company has a 50-day moving average price of $567.54 and a 200 day moving average price of $602.02.

argenex (NASDAQ:ARGX - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported $2.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.32 by $0.26. argenex had a return on equity of 16.15% and a net margin of 40.20%. The firm had revenue of $1.35 billion for the quarter, compared to analysts' expectations of $748.34 million. As a group, research analysts expect that argenex will post 3.13 earnings per share for the current year.

Institutional Investors Weigh In On argenex

Several hedge funds have recently added to or reduced their stakes in ARGX. FMR LLC lifted its holdings in shares of argenex by 17.2% during the fourth quarter. FMR LLC now owns 5,618,222 shares of the company's stock valued at $3,455,207,000 after purchasing an additional 824,750 shares in the last quarter. Capital World Investors lifted its holdings in shares of argenex by 5.1% during the fourth quarter. Capital World Investors now owns 1,786,936 shares of the company's stock valued at $1,099,002,000 after purchasing an additional 86,687 shares in the last quarter. RTW Investments LP lifted its holdings in shares of argenex by 2.9% during the fourth quarter. RTW Investments LP now owns 673,497 shares of the company's stock valued at $414,201,000 after purchasing an additional 19,067 shares in the last quarter. Clearbridge Investments LLC lifted its holdings in shares of argenex by 6.8% during the fourth quarter. Clearbridge Investments LLC now owns 629,828 shares of the company's stock valued at $387,344,000 after purchasing an additional 40,330 shares in the last quarter. Finally, Lord Abbett & CO. LLC lifted its holdings in shares of argenex by 33.2% during the first quarter. Lord Abbett & CO. LLC now owns 274,700 shares of the company's stock valued at $162,585,000 after purchasing an additional 68,498 shares in the last quarter. 60.32% of the stock is owned by institutional investors.

argenex 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.