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

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

ARGX has been the topic of a number of other reports. Oppenheimer restated an “outperform” rating and set a $675.00 price target (up from $646.00) on shares of argenx in a research report on Thursday, November 21st. Piper Sandler boosted their price target 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. Scotiabank upgraded shares of argenx from a “sector perform” rating to a “sector outperform” rating and boosted their price target for the stock from $439.00 to $715.00 in a research report on Tuesday, November 5th. Robert W. Baird cut shares of argenx from an “outperform” rating to a “neutral” rating and lifted their price objective for the company from $515.00 to $650.00 in a report on Friday, November 1st. Finally, Raymond James reiterated a “strong-buy” rating and set a $605.00 target price on shares of argenx in a report on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $658.39.

argenx Stock Performance

Shares of ARGX stock traded down $13.91 on Friday, reaching $645.90. 149,885 shares of the company were exchanged, compared to its average volume of 276,267. The company has a market cap of $38.99 billion, a price-to-earnings ratio of -733.98 and a beta of 0.59. The business has a 50-day moving average price of $619.30 and a 200 day moving average price of $554.23. argenx has a 1 year low of $349.86 and a 1 year high of $678.21.

argenx (NASDAQ:ARGX) last released its earnings results on Thursday, October 31st. The company reported $1.39 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $1.29. The business had revenue of $588.88 million during the quarter, compared to analysts’ expectations of $543.29 million. argenx had a negative net margin of 2.11% and a negative return on equity of 1.45%. During the same quarter in the previous year, the company earned ($1.25) earnings per share. As a group, equities analysts anticipate that argenx will post 2.17 earnings per share for the current year.

Hedge Funds Weigh In On argenx

A number of large investors have recently modified their holdings of ARGX. Atomi Financial Group Inc. acquired a new stake in shares of argenx during the 4th quarter valued at approximately $339,000. Crossmark Global Holdings Inc. grew its holdings in argenx by 2.7% in the fourth quarter. Crossmark Global Holdings Inc. now owns 9,714 shares of the company’s stock valued at $5,974,000 after purchasing an additional 252 shares during the last quarter. Ballentine Partners LLC increased its position in shares of argenx by 21.5% in the fourth quarter. Ballentine Partners LLC now owns 536 shares of the company’s stock valued at $330,000 after buying an additional 95 shares in the last quarter. Aaron Wealth Advisors LLC raised its stake in shares of argenx by 10.1% during the 4th quarter. Aaron Wealth Advisors LLC now owns 489 shares of the company’s stock worth $301,000 after buying an additional 45 shares during the last quarter. Finally, Ritholtz Wealth Management lifted its holdings in shares of argenx by 85.5% in the fourth quarter. Ritholtz Wealth Management now owns 898 shares of the company’s stock valued at $552,000 after purchasing an additional 414 shares in the last quarter. 60.32% of the stock is owned by hedge funds and other institutional investors.

About argenx

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.