argenx SE (NASDAQ:ARGX) Expected to Post Q1 2024 Earnings of ($0.89) Per Share

argenx SE (NASDAQ:ARGX) – William Blair upped their Q1 2024 earnings per share (EPS) estimates for argenx in a research report issued on Wednesday, April 17th. William Blair analyst M. Minter now expects that the company will earn ($0.89) per share for the quarter, up from their previous forecast of ($1.24). The consensus estimate for argenx’s current full-year earnings is ($2.11) per share. William Blair also issued estimates for argenx’s FY2024 earnings at ($2.96) EPS and FY2025 earnings at $2.78 EPS.

argenx (NASDAQ:ARGX) last posted its quarterly earnings data on Thursday, February 29th. The company reported ($1.68) EPS for the quarter, missing analysts’ consensus estimates of ($1.23) by ($0.45). The firm had revenue of $417.84 million for the quarter, compared to analysts’ expectations of $378.60 million. argenx had a negative net margin of 23.26% and a negative return on equity of 16.97%. During the same period in the prior year, the company posted ($0.70) earnings per share.

Other analysts also recently issued reports about the stock. Piper Sandler boosted their target price on shares of argenx from $518.00 to $522.00 and gave the company an “overweight” rating in a research note on Friday, January 26th. HC Wainwright reiterated a “buy” rating and set a $451.00 price target on shares of argenx in a report on Thursday. Wells Fargo & Company increased their price objective on argenx from $472.00 to $478.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 20th. JMP Securities restated a “market outperform” rating and set a $471.00 price objective on shares of argenx in a research report on Friday, March 22nd. Finally, Scotiabank upped their target price on argenx from $402.00 to $408.00 and gave the company a “sector perform” rating in a report on Tuesday, March 26th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $528.16.

argenx Stock Performance

Shares of NASDAQ:ARGX opened at $360.23 on Friday. The firm has a 50 day simple moving average of $387.43 and a 200 day simple moving average of $420.93. argenx has a 52 week low of $327.73 and a 52 week high of $550.76. The company has a market cap of $21.36 billion, a PE ratio of -70.08 and a beta of 0.65.

Hedge Funds Weigh In On argenx

Several hedge funds have recently bought and sold shares of the business. Raymond James Financial Services Advisors Inc. boosted its stake in shares of argenx by 30.4% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 14,470 shares of the company’s stock worth $5,505,000 after acquiring an additional 3,374 shares in the last quarter. China Universal Asset Management Co. Ltd. grew its holdings in argenx by 388.7% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 3,719 shares of the company’s stock valued at $1,415,000 after purchasing an additional 2,958 shares during the last quarter. RTW Investments LP raised its position in shares of argenx by 5.2% in the third quarter. RTW Investments LP now owns 507,195 shares of the company’s stock valued at $249,352,000 after purchasing an additional 25,000 shares during the period. Townsquare Capital LLC raised its position in shares of argenx by 96.6% in the third quarter. Townsquare Capital LLC now owns 3,442 shares of the company’s stock valued at $1,692,000 after purchasing an additional 1,691 shares during the period. Finally, Northern Trust Corp lifted its stake in shares of argenx by 41.1% in the third quarter. Northern Trust Corp now owns 39,936 shares of the company’s stock worth $19,634,000 after buying an additional 11,627 shares during the last quarter. 60.32% 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, 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.