argenex (NASDAQ:ARGX) Rating Increased to Buy at Deutsche Bank Aktiengesellschaft

argenex (NASDAQ:ARGX) was upgraded by investment analysts at Deutsche Bank Aktiengesellschaft from a “hold” rating to a “buy” rating in a research note issued on Tuesday, MarketBeat reports.

Other analysts have also recently issued reports about the company. HC Wainwright boosted their price target on argenex from $915.00 to $940.00 and gave the stock a “buy” rating in a research report on Friday, February 27th. Weiss Ratings restated a “hold (c)” rating on shares of argenex in a research report on Wednesday, January 21st. Wall Street Zen lowered shares of argenex from a “buy” rating to a “hold” rating in a research note on Sunday. Truist Financial increased their price target on argenex from $950.00 to $1,030.00 and gave the company a “buy” rating in a report on Thursday, January 8th. Finally, Guggenheim dropped their target price on argenex from $1,160.00 to $1,120.00 and set a “buy” rating for the company in a report on Friday, February 27th. One analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $999.22.

argenex Stock Up 0.3%

Shares of NASDAQ ARGX traded up $2.39 during trading on Tuesday, hitting $742.79. The company had a trading volume of 340,799 shares, compared to its average volume of 394,053. argenex has a fifty-two week low of $510.05 and a fifty-two week high of $934.62. The stock has a fifty day simple moving average of $813.59 and a two-hundred day simple moving average of $816.60. The firm has a market capitalization of $45.96 billion, a price-to-earnings ratio of 38.05, a price-to-earnings-growth ratio of 1.17 and a beta of 0.38.

argenex (NASDAQ:ARGX) last issued its quarterly earnings results on Thursday, February 26th. The company reported $8.02 earnings per share for the quarter, beating analysts’ consensus estimates of $6.05 by $1.97. argenex had a net margin of 30.42% and a return on equity of 38.51%. The firm had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.30 billion. On average, analysts anticipate that argenex will post 3.13 earnings per share for the current year.

Institutional Investors Weigh In On argenex

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Oppenheimer & Co. Inc. increased its position in argenex by 2.8% during the fourth quarter. Oppenheimer & Co. Inc. now owns 442 shares of the company’s stock worth $372,000 after buying an additional 12 shares during the period. Valeo Financial Advisors LLC boosted its holdings in shares of argenex by 0.9% in the fourth quarter. Valeo Financial Advisors LLC now owns 1,372 shares of the company’s stock valued at $1,153,000 after acquiring an additional 12 shares during the period. CI Investments Inc. boosted its holdings in shares of argenex by 2.6% in the fourth quarter. CI Investments Inc. now owns 469 shares of the company’s stock valued at $394,000 after acquiring an additional 12 shares during the period. Sound View Wealth Advisors Group LLC grew its position in shares of argenex by 3.4% during the third quarter. Sound View Wealth Advisors Group LLC now owns 396 shares of the company’s stock worth $292,000 after acquiring an additional 13 shares during the last quarter. Finally, Allworth Financial LP grew its position in shares of argenex by 12.7% during the fourth quarter. Allworth Financial LP now owns 115 shares of the company’s stock worth $97,000 after acquiring an additional 13 shares during the last quarter. Institutional investors and hedge funds own 60.32% of the company’s stock.

About argenex

argenx (NASDAQ: ARGX) is a biotechnology company focused on the discovery, development and commercialization of antibody-based therapeutics for severe autoimmune and neuromuscular diseases. The company uses its proprietary SIMPLE Antibody platform to generate differentiated antibodies and engineered Fc regions, and it pursues mechanisms that modulate the neonatal Fc receptor (FcRn) to reduce pathogenic IgG levels. Argenx’s research and development activities span target identification, preclinical development and late-stage clinical programs aimed at addressing unmet needs in immunology.

The company’s lead product, efgartigimod (marketed as Vyvgart), is an FcRn antagonist developed to reduce circulating IgG antibodies and treat IgG-mediated disorders.