argenex (NASDAQ:ARGX) Stock Rating Reaffirmed as Neutral by Deutsche Bank Aktiengesellschaft

argenex (NASDAQ:ARGX)‘s stock had its “neutral” rating restated by research analysts at Deutsche Bank Aktiengesellschaft in a note issued to investors on Friday.

ARGX has been the subject of several other research reports. Weiss Ratings lowered shares of argenex from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, July 23rd. Wedbush reiterated an “outperform” rating and issued a $1,150.00 target price on shares of argenex in a research note on Thursday, September 3rd. Guggenheim initiated coverage on shares of argenex in a research note on Tuesday, August 4th. They issued a “buy” rating and a $1,185.00 target price for the company. Morgan Stanley boosted their target price on argenex from $1,230.00 to $1,250.00 and gave the stock an “overweight” rating in a report on Monday, August 31st. Finally, HC Wainwright increased their price target on argenex from $940.00 to $1,202.00 and gave the stock a “buy” rating in a research report on Tuesday, August 18th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $1,158.32.

argenex Trading Down 1.1%

Shares of argenex stock traded down $8.70 during mid-day trading on Friday, reaching $816.33. 115,361 shares of the stock were exchanged, compared to its average volume of 345,069. argenex has a fifty-two week low of $661.85 and a fifty-two week high of $1,072.75. The company has a market cap of $51.07 billion, a price-to-earnings ratio of 31.40, a price-to-earnings-growth ratio of 0.86 and a beta of 0.44. The firm has a 50-day simple moving average of $959.93 and a 200 day simple moving average of $877.49.

argenex (NASDAQ:ARGX) last announced its quarterly earnings results on Tuesday, July 21st. The company reported $7.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.86 by $1.46. The firm had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.45 billion. argenex had a net margin of 32.19% and a return on equity of 43.59%. On average, research analysts predict that argenex will post 28.83 EPS for the current fiscal year.

Institutional Investors Weigh In On argenex

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Janus Henderson Group PLC lifted its stake in shares of argenex by 3.4% during the first quarter. Janus Henderson Group PLC now owns 2,541,732 shares of the company’s stock valued at $1,847,592,000 after acquiring an additional 83,568 shares during the period. Sands Capital Management LLC boosted its holdings in argenex by 2,046.6% in the fourth quarter. Sands Capital Management LLC now owns 356,870 shares of the company’s stock valued at $300,110,000 after acquiring an additional 340,245 shares during the last quarter. Jennison Associates LLC increased its position in argenex by 3.4% in the first quarter. Jennison Associates LLC now owns 237,468 shares of the company’s stock worth $173,411,000 after purchasing an additional 7,707 shares during the period. Allspring Global Investments Holdings LLC increased its position in argenex by 1.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 175,311 shares of the company’s stock worth $130,277,000 after purchasing an additional 2,579 shares during the period. Finally, First Trust Advisors LP raised its holdings in argenex by 98.9% during the 1st quarter. First Trust Advisors LP now owns 107,195 shares of the company’s stock worth $78,279,000 after purchasing an additional 53,293 shares during the last quarter. Institutional investors own 60.32% of the company’s stock.

argenex Company Profile

argenx SE (NASDAQ:ARGX) is a global immunology company focused on developing and commercializing therapies for patients with severe autoimmune diseases. The company combines antibody engineering technologies with disease biology to discover medicines that target the underlying mechanisms of immune-mediated disorders.

argenx’s leading product is efgartigimod, marketed as Vyvgart and Vyvgart Hytrulo in the United States. The therapies are designed to reduce disease-causing immunoglobulin G (IgG) antibodies by targeting the neonatal Fc receptor (FcRn).