argenx SE (NASDAQ:ARGX) Expected to Announce Quarterly Sales of $12.35 Million

Wall Street analysts expect argenx SE (NASDAQ:ARGXGet Rating) to report $12.35 million in sales for the current quarter, Zacks Investment Research reports. Six analysts have provided estimates for argenx’s earnings, with the lowest sales estimate coming in at $5.65 million and the highest estimate coming in at $21.91 million. argenx reported sales of $167.42 million during the same quarter last year, which indicates a negative year-over-year growth rate of 92.6%. The company is expected to announce its next quarterly earnings report on Monday, January 1st.

According to Zacks, analysts expect that argenx will report full-year sales of $127.16 million for the current year, with estimates ranging from $96.75 million to $147.18 million. For the next fiscal year, analysts expect that the company will post sales of $456.40 million, with estimates ranging from $350.42 million to $568.20 million. Zacks’ sales calculations are a mean average based on a survey of analysts that cover argenx.

ARGX has been the subject of a number of research reports. Truist Financial increased their price target on shares of argenx from $350.00 to $365.00 and gave the company a “buy” rating in a report on Tuesday, December 21st. Wells Fargo & Company raised their price objective on shares of argenx from $390.00 to $395.00 and gave the stock an “overweight” rating in a report on Monday, December 20th. JPMorgan Chase & Co. raised their price objective on shares of argenx from €340.00 ($369.57) to €350.00 ($380.43) in a report on Tuesday, January 4th. JMP Securities raised their price objective on shares of argenx from $368.00 to $418.00 and gave the stock a “market outperform” rating in a report on Tuesday, December 21st. Finally, HC Wainwright reaffirmed a “buy” rating and set a $400.00 price objective on shares of argenx in a report on Friday, March 4th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $351.33.

Shares of argenx stock opened at $322.82 on Friday. argenx has a fifty-two week low of $248.21 and a fifty-two week high of $356.78. The firm has a fifty day moving average price of $298.63 and a two-hundred day moving average price of $299.76. The company has a market cap of $17.43 billion, a PE ratio of -40.40 and a beta of 1.08.

Institutional investors and hedge funds have recently bought and sold shares of the business. CI Investments Inc. acquired a new stake in argenx in the 3rd quarter valued at about $66,000. UBS Group AG increased its position in argenx by 38.9% in the 3rd quarter. UBS Group AG now owns 12,511 shares of the company’s stock valued at $3,779,000 after acquiring an additional 3,501 shares in the last quarter. Deutsche Bank AG increased its position in argenx by 133.2% in the 3rd quarter. Deutsche Bank AG now owns 8,250 shares of the company’s stock valued at $2,491,000 after acquiring an additional 4,712 shares in the last quarter. Point72 Asset Management L.P. increased its position in argenx by 80.9% in the 3rd quarter. Point72 Asset Management L.P. now owns 287,047 shares of the company’s stock valued at $86,688,000 after acquiring an additional 128,347 shares in the last quarter. Finally, Brookfield Asset Management Inc. increased its position in argenx by 198.1% in the 3rd quarter. Brookfield Asset Management Inc. now owns 4,430 shares of the company’s stock valued at $1,338,000 after acquiring an additional 2,944 shares in the last quarter. Hedge funds and other institutional investors own 59.41% of the company’s stock.

argenx Company Profile (Get Rating)

argenx SE, a clinical-stage biotechnology company, focuses on developing antibody-based therapies for the treatment of autoimmune diseases, hematology, and cancer. It is developing its lead product candidate, efgartigimod, for the treatment of patients with myasthenia gravis; immune thrombocytopenia in Phase III; pemphigus vulgaris in Phase III; chronic inflammatory demyelinating polyneuropathy in Phase III; and ENHANZE SC in pre-clinical stages.

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