argenex (NASDAQ:ARGX) Upgraded at Deutsche Bank Aktiengesellschaft

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

ARGX has been the subject of several other research reports. Guggenheim reduced their price objective on shares of argenex from $1,100.00 to $1,065.00 and set a "buy" rating for the company in a research note on Friday, May 9th. Baird R W raised shares of argenex from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, May 13th. JMP Securities set a $699.00 price objective on shares of argenex in a research note on Wednesday, May 14th. HC Wainwright reissued a "buy" rating and set a $720.00 price target on shares of argenex in a research report on Tuesday, July 1st. Finally, Robert W. Baird upgraded shares of argenex from a "neutral" rating to an "outperform" rating and set a $680.00 price objective for the company in a report on Tuesday, May 13th. Nineteen research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $728.06.

argenex Stock Up 3.1%

NASDAQ ARGX traded up $16.55 during trading hours on Tuesday, reaching $555.19. 671,256 shares of the company were exchanged, compared to its average volume of 333,005. argenex has a 1 year low of $457.42 and a 1 year high of $678.21. The business's 50 day simple moving average is $570.86 and its 200-day simple moving average is $602.95. The stock has a market capitalization of $33.90 billion, a P/E ratio of 34.25, a P/E/G ratio of 0.99 and a beta of 0.37.

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

Hedge Funds Weigh In On argenex

Several large investors have recently added to or reduced their stakes in the company. FMR LLC lifted its holdings in 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 increased its position in 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 acquiring an additional 86,687 shares during the last quarter. RTW Investments LP increased its position in 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 acquiring an additional 19,067 shares during the last quarter. Clearbridge Investments LLC increased its position in 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 acquiring an additional 40,330 shares during the last quarter. Finally, Lord Abbett & CO. LLC increased its position in 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 acquiring an additional 68,498 shares during the last quarter. 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.