argenx (NASDAQ:ARGX) Cut to "Sell" at Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft downgraded shares of argenx (NASDAQ:ARGX - Free Report) from a hold rating to a sell rating in a research report released on Friday, MarketBeat reports.

A number of other analysts have also weighed in on the stock. Evercore ISI upped their target price on shares of argenx from $675.00 to $706.00 and gave the stock an "outperform" rating in a research note on Thursday, November 21st. JPMorgan Chase & Co. upped their target price on shares of argenx from $640.00 to $670.00 and gave the stock an "overweight" rating in a research note on Monday, November 4th. Wells Fargo & Company upped their target price on shares of argenx from $639.00 to $723.00 and gave the stock an "overweight" rating in a research note on Thursday, December 19th. Truist Financial restated a "buy" rating and set a $700.00 target price (up from $660.00) on shares of argenx in a research note on Tuesday. Finally, Guggenheim upped their target price on shares of argenx from $585.00 to $665.00 and gave the stock a "buy" rating in a research note on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $658.39.

argenx Stock Down 2.9 %

NASDAQ:ARGX traded down $19.29 on Friday, reaching $640.52. 483,293 shares of the company's stock were exchanged, compared to its average volume of 186,140. The firm has a market capitalization of $38.67 billion, a price-to-earnings ratio of -727.86 and a beta of 0.59. The business has a fifty day moving average of $620.19 and a 200-day moving average of $556.51. argenx has a 52-week low of $349.86 and a 52-week high of $678.21.

argenx (NASDAQ:ARGX - Get Free Report) last issued its quarterly earnings results on Thursday, October 31st. The company reported $1.39 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.10 by $1.29. The company had revenue of $588.88 million for the quarter, compared to analyst estimates 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 period in the prior year, the firm 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.

Institutional Trading of argenx

Institutional investors have recently modified their holdings of the company. Cromwell Holdings LLC grew its holdings in shares of argenx by 73.3% during the 3rd quarter. Cromwell Holdings LLC now owns 156 shares of the company's stock worth $85,000 after purchasing an additional 66 shares during the period. GAMMA Investing LLC grew its holdings in shares of argenx by 47.5% during the 3rd quarter. GAMMA Investing LLC now owns 174 shares of the company's stock worth $94,000 after purchasing an additional 56 shares during the period. Point72 Hong Kong Ltd acquired a new position in argenx during the 2nd quarter worth approximately $76,000. SG Americas Securities LLC lifted its position in argenx by 6.2% during the 4th quarter. SG Americas Securities LLC now owns 358 shares of the company's stock worth $220,000 after acquiring an additional 21 shares in the last quarter. Finally, Fulton Bank N.A. acquired a new position in argenx during the 4th quarter worth approximately $226,000. 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.