argenx SE (NASDAQ:ARGX) Forecasted to Post FY2023 Earnings of ($4.63) Per Share

argenx SE (NASDAQ:ARGX) – Equities research analysts at HC Wainwright increased their FY2023 EPS estimates for argenx in a research note issued to investors on Wednesday, November 1st. HC Wainwright analyst D. Tsao now anticipates that the company will post earnings per share of ($4.63) for the year, up from their previous estimate of ($5.03). HC Wainwright has a “Buy” rating and a $595.00 price target on the stock. The consensus estimate for argenx’s current full-year earnings is ($5.12) per share. HC Wainwright also issued estimates for argenx’s Q4 2023 earnings at ($1.17) EPS, Q1 2024 earnings at ($0.93) EPS, Q2 2024 earnings at ($1.46) EPS, Q3 2024 earnings at ($0.93) EPS, Q4 2024 earnings at ($1.22) EPS, FY2024 earnings at ($4.55) EPS, FY2025 earnings at $8.12 EPS, FY2026 earnings at $23.98 EPS and FY2027 earnings at $38.17 EPS.

Several other research analysts have also recently weighed in on the stock. Wells Fargo & Company lifted their price target on shares of argenx from $606.00 to $609.00 and gave the stock an “overweight” rating in a research note on Friday, July 28th. Evercore ISI started coverage on shares of argenx in a research note on Monday, July 17th. They issued an “outperform” rating and a $436.00 price objective for the company. Guggenheim lifted their price objective on shares of argenx from $545.00 to $590.00 and gave the stock a “buy” rating in a research note on Friday, July 28th. Citigroup lifted their price target on shares of argenx from $450.00 to $592.00 in a research note on Tuesday, July 18th. Finally, Morgan Stanley lifted their price target on shares of argenx from $604.00 to $607.00 and gave the stock an “overweight” rating in a research note on Wednesday. One research analyst has rated the stock with a sell rating, two have given a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $539.29.

argenx Trading Up 1.6 %

Shares of ARGX stock opened at $499.96 on Friday. The firm’s 50 day moving average is $497.47 and its 200 day moving average is $453.20. The stock has a market capitalization of $29.54 billion, a P/E ratio of -120.18 and a beta of 0.79. argenx has a 12-month low of $333.07 and a 12-month high of $550.76.

argenx (NASDAQ:ARGX) last issued its earnings results on Tuesday, October 31st. The company reported ($1.25) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.48) by $0.23. argenx had a negative net margin of 22.70% and a negative return on equity of 12.40%. The company had revenue of $339.84 million for the quarter, compared to analysts’ expectations of $310.06 million. During the same quarter last year, the company posted ($4.26) earnings per share.

Institutional Investors Weigh In On argenx

Several large investors have recently modified their holdings of ARGX. JPMorgan Chase & Co. raised its stake in shares of argenx by 143.0% during the 1st quarter. JPMorgan Chase & Co. now owns 1,577 shares of the company’s stock worth $497,000 after acquiring an additional 928 shares in the last quarter. Raymond James & Associates increased its stake in argenx by 19.4% during the 1st quarter. Raymond James & Associates now owns 4,534 shares of the company’s stock valued at $1,430,000 after purchasing an additional 738 shares in the last quarter. Raymond James Financial Services Advisors Inc. boosted its holdings in shares of argenx by 46.0% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 3,544 shares of the company’s stock valued at $1,117,000 after acquiring an additional 1,116 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of argenx by 4.4% in the 1st quarter. Bank of New York Mellon Corp now owns 6,447 shares of the company’s stock valued at $2,033,000 after acquiring an additional 271 shares during the last quarter. Finally, US Bancorp DE boosted its holdings in argenx by 43.0% during the first quarter. US Bancorp DE now owns 1,798 shares of the company’s stock worth $566,000 after buying an additional 541 shares in the last quarter. Institutional investors own 52.77% 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, the Netherlands, Belgium, Japan, Switzerland, Germany, France, Canada, the United Kingdom, and Italy. Its lead product candidate is efgartigimod for the treatment of patients with myasthenia gravis, immune thrombocytopenia, pemphigus vulgaris, pemphigus foliaceus, chronic inflammatory demyelinating polyneuropathy, bullous pemphigoid, and idiopathic inflammatory myopathy; and ENHANZE SC.