Leerink Partnrs Comments on argenx SE’s FY2023 Earnings (NASDAQ:ARGX)

argenx SE (NASDAQ:ARGX) – Stock analysts at Leerink Partnrs boosted their FY2023 earnings per share (EPS) estimates for argenx in a research report issued on Tuesday, October 31st. Leerink Partnrs analyst T. Smith now anticipates that the company will post earnings per share of ($4.52) for the year, up from their prior estimate of ($5.50). The consensus estimate for argenx’s current full-year earnings is ($5.12) per share. Leerink Partnrs also issued estimates for argenx’s Q4 2023 earnings at ($1.06) EPS, FY2024 earnings at ($2.33) EPS, FY2025 earnings at $6.82 EPS, FY2026 earnings at $14.92 EPS and FY2027 earnings at $25.54 EPS.

Other research analysts have also recently issued research reports about the company. Truist Financial restated a “buy” rating and issued a $570.00 price target on shares of argenx in a research report on Wednesday. Robert W. Baird lifted their price objective on argenx from $460.00 to $566.00 in a research report on Tuesday, July 18th. Wedbush reiterated an “outperform” rating and set a $570.00 price objective on shares of argenx in a research report on Tuesday, July 18th. Bank of America lifted their price objective on argenx from $446.00 to $572.00 in a research report on Tuesday, July 18th. Finally, UBS Group cut argenx from a “buy” rating to a “neutral” rating and lifted their price target for the company from $480.00 to $570.00 in a report on Monday, July 24th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $539.29.

argenx Stock Up 1.6 %

Shares of ARGX stock opened at $499.96 on Friday. argenx has a fifty-two week low of $333.07 and a fifty-two week high of $550.76. The stock has a market cap of $29.54 billion, a P/E ratio of -120.18 and a beta of 0.79. The business has a fifty day simple moving average of $497.47 and a 200-day simple moving average of $453.20.

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

Hedge Funds Weigh In On argenx

Several hedge funds and other institutional investors have recently bought and sold shares of ARGX. JPMorgan Chase & Co. lifted its position in 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 lifted its position in argenx by 19.4% during the 1st quarter. Raymond James & Associates now owns 4,534 shares of the company’s stock worth $1,430,000 after acquiring an additional 738 shares in the last quarter. Raymond James Financial Services Advisors Inc. lifted its position in argenx by 46.0% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 3,544 shares of the company’s stock worth $1,117,000 after acquiring an additional 1,116 shares in the last quarter. Bank of New York Mellon Corp lifted its position in argenx by 4.4% during the 1st quarter. Bank of New York Mellon Corp now owns 6,447 shares of the company’s stock worth $2,033,000 after acquiring an additional 271 shares in the last quarter. Finally, US Bancorp DE lifted its position in argenx by 43.0% during the 1st quarter. US Bancorp DE now owns 1,798 shares of the company’s stock worth $566,000 after acquiring an additional 541 shares in the last quarter. 52.77% of the stock is owned by institutional investors and hedge funds.

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.