Deutsche Bank Aktiengesellschaft Downgrades argenx (NASDAQ:ARGX) to Sell

argenx (NASDAQ:ARGX) was downgraded by research analysts at Deutsche Bank Aktiengesellschaft from a “hold” rating to a “sell” rating in a research note issued on Friday, Marketbeat Ratings reports.

A number of other brokerages have also weighed in on ARGX. Citigroup raised their target price on shares of argenx from $512.00 to $635.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. Guggenheim boosted their price objective on argenx from $585.00 to $665.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Wedbush reiterated an “outperform” rating and issued a $655.00 target price on shares of argenx in a research report on Tuesday, December 3rd. Truist Financial reaffirmed a “buy” rating and issued a $700.00 price objective (up previously from $660.00) on shares of argenx in a research note on Tuesday, January 14th. Finally, Piper Sandler lifted their target price on shares of argenx from $620.00 to $725.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 7th. One analyst has rated the stock with a sell rating, two have issued a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $658.39.

argenx Price Performance

Shares of ARGX opened at $640.52 on Friday. The firm has a 50 day simple moving average of $620.19 and a two-hundred day simple moving average of $556.51. argenx has a one year low of $349.86 and a one year high of $678.21. The company has a market cap of $38.67 billion, a P/E ratio of -727.86 and a beta of 0.59.

argenx (NASDAQ:ARGX) last announced its quarterly earnings data on Thursday, October 31st. The company reported $1.39 earnings per share for the quarter, topping the consensus estimate of $0.10 by $1.29. The business had revenue of $588.88 million during the quarter, compared to the consensus estimate of $543.29 million. argenx had a negative return on equity of 1.45% and a negative net margin of 2.11%. During the same period in the prior year, the company earned ($1.25) EPS. On average, analysts expect that argenx will post 2.17 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of ARGX. Point72 Hong Kong Ltd bought a new stake in shares of argenx in the 2nd quarter worth $76,000. Cromwell Holdings LLC lifted its holdings in argenx by 73.3% during the third quarter. Cromwell Holdings LLC now owns 156 shares of the company’s stock worth $85,000 after acquiring an additional 66 shares during the period. GAMMA Investing LLC boosted its position in argenx by 47.5% in the third quarter. GAMMA Investing LLC now owns 174 shares of the company’s stock worth $94,000 after purchasing an additional 56 shares during the last quarter. Blue Trust Inc. increased its position in shares of argenx by 413.9% during the 3rd quarter. Blue Trust Inc. now owns 370 shares of the company’s stock valued at $201,000 after purchasing an additional 298 shares during the last quarter. Finally, Keudell Morrison Wealth Management bought a new stake in shares of argenx during the 3rd quarter worth $207,000. Hedge funds and other institutional investors own 60.32% of the company’s stock.

argenx 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.