argenex (NASDAQ:ARGX) Upgraded by Deutsche Bank Aktiengesellschaft to “Buy” Rating

Deutsche Bank Aktiengesellschaft upgraded shares of argenex (NASDAQ:ARGX) from a hold rating to a buy rating in a research report released on Tuesday morning, Marketbeat.com reports.

Several other research analysts have also recently commented on the stock. DZ Bank raised shares of argenex to a “strong-buy” rating in a report on Friday, December 19th. Wolfe Research reiterated a “peer perform” rating on shares of argenex in a research note on Monday, November 24th. Robert W. Baird increased their price target on argenex from $858.00 to $867.00 and gave the stock a “neutral” rating in a research report on Friday, February 27th. Stifel Nicolaus raised their price objective on argenex from $1,028.00 to $1,248.00 and gave the stock a “buy” rating in a research note on Thursday, December 11th. Finally, Zacks Research raised argenex from a “strong sell” rating to a “hold” rating in a report on Friday, February 20th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, argenex has a consensus rating of “Moderate Buy” and an average target price of $999.22.

argenex Stock Performance

Shares of argenex stock opened at $742.79 on Tuesday. The firm has a 50-day moving average of $811.69 and a 200-day moving average of $817.18. argenex has a 52-week low of $510.05 and a 52-week high of $934.62. The stock has a market cap of $45.96 billion, a PE ratio of 38.05, a PEG ratio of 1.22 and a beta of 0.38.

argenex (NASDAQ:ARGX) last released its quarterly earnings results on Thursday, February 26th. The company reported $8.02 EPS for the quarter, topping 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 business had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.30 billion. Equities research analysts predict that argenex will post 3.13 earnings per share for the current fiscal year.

Hedge Funds Weigh In On argenex

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Abound Wealth Management boosted its position in argenex by 3,200.0% in the fourth quarter. Abound Wealth Management now owns 33 shares of the company’s stock valued at $28,000 after buying an additional 32 shares in the last quarter. Sound Income Strategies LLC acquired a new stake in shares of argenex during the 4th quarter valued at $28,000. Ameriflex Group Inc. bought a new stake in argenex during the 3rd quarter worth $32,000. Sunbelt Securities Inc. acquired a new position in argenex in the 3rd quarter worth about $36,000. Finally, Aventura Private Wealth LLC acquired a new position in argenex in the 4th quarter worth about $38,000. Institutional investors own 60.32% of the company’s stock.

argenex Company Profile

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.