argenx (NASDAQ:ARGX) Downgraded by Deutsche Bank Aktiengesellschaft to “Sell”

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

A number of other brokerages have also weighed in on ARGX. Wells Fargo & Company boosted their target price on shares of argenx from $639.00 to $723.00 and gave the company an “overweight” rating in a research note on Thursday, December 19th. Baird R W downgraded shares of argenx from a “strong-buy” rating to a “hold” rating in a report on Friday, November 1st. Guggenheim increased their target price on argenx from $585.00 to $665.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Wolfe Research raised argenx from a “peer perform” rating to an “outperform” rating and set a $697.00 price objective for the company in a research note on Tuesday, November 12th. Finally, JMP Securities increased their price target on argenx from $606.00 to $696.00 and gave the company a “market outperform” rating in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $658.39.

argenx Price Performance

NASDAQ ARGX traded down $13.91 during trading hours on Friday, reaching $645.90. 149,885 shares of the company’s stock traded hands, compared to its average volume of 276,267. argenx has a 52-week low of $349.86 and a 52-week high of $678.21. The firm has a 50-day simple moving average of $619.30 and a 200 day simple moving average of $554.23. The firm has a market cap of $38.99 billion, a PE ratio of -733.98 and a beta of 0.59.

argenx (NASDAQ:ARGX) last released its earnings results on Thursday, October 31st. The company reported $1.39 EPS for the quarter, topping the consensus estimate of $0.10 by $1.29. The business had revenue of $588.88 million for 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 previous year, the company posted ($1.25) earnings per share. Sell-side analysts forecast that argenx will post 2.17 EPS for the current fiscal year.

Hedge Funds Weigh In On argenx

Institutional investors and hedge funds have recently modified their holdings of the stock. FMR LLC raised its position in argenx by 35.9% during the third quarter. FMR LLC now owns 4,793,472 shares of the company’s stock valued at $2,598,445,000 after acquiring an additional 1,265,486 shares in the last quarter. Janus Henderson Group PLC increased its stake in shares of argenx by 0.4% in the 3rd quarter. Janus Henderson Group PLC now owns 2,479,207 shares of the company’s stock valued at $1,343,797,000 after purchasing an additional 10,975 shares in the last quarter. Clearbridge Investments LLC boosted its position in argenx by 3.6% during the second quarter. Clearbridge Investments LLC now owns 617,466 shares of the company’s stock worth $265,535,000 after purchasing an additional 21,189 shares in the last quarter. Wellington Management Group LLP grew its holdings in argenx by 13.0% in the third quarter. Wellington Management Group LLP now owns 482,346 shares of the company’s stock valued at $261,470,000 after purchasing an additional 55,617 shares during the period. Finally, Sei Investments Co. increased its position in shares of argenx by 15.2% in the second quarter. Sei Investments Co. now owns 381,544 shares of the company’s stock valued at $164,079,000 after buying an additional 50,477 shares in the last quarter. Institutional investors and hedge funds 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.