William Blair Research Analysts Boost Earnings Estimates for argenx SE (NASDAQ:ARGX)

argenx SE (NASDAQ:ARGX) – Equities researchers at William Blair boosted their Q2 2024 earnings per share estimates for argenx in a research report issued to clients and investors on Thursday, April 18th. William Blair analyst M. Minter now forecasts that the company will earn ($0.83) per share for the quarter, up from their prior estimate of ($1.03). The consensus estimate for argenx’s current full-year earnings is ($2.10) per share. William Blair also issued estimates for argenx’s Q3 2024 earnings at ($0.63) EPS, Q4 2024 earnings at ($0.62) EPS, Q1 2025 earnings at $0.16 EPS, Q2 2025 earnings at $0.51 EPS, Q3 2025 earnings at $0.77 EPS and Q4 2025 earnings at $1.35 EPS.

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

Several other equities research analysts have also issued reports on ARGX. HC Wainwright reaffirmed a “buy” rating and issued a $451.00 price objective on shares of argenx in a research note on Thursday. Truist Financial raised their price objective on argenx from $370.00 to $440.00 and gave the company a “buy” rating in a research note on Tuesday, March 5th. Scotiabank raised their price objective on argenx from $402.00 to $408.00 and gave the company a “sector perform” rating in a research note on Tuesday, March 26th. Wedbush reaffirmed an “outperform” rating and issued a $521.00 price objective on shares of argenx in a research note on Thursday. Finally, Wells Fargo & Company raised their price objective on argenx from $472.00 to $478.00 and gave the company an “overweight” rating in a research note on Tuesday, February 20th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, argenx currently has an average rating of “Moderate Buy” and an average price target of $528.16.

argenx Trading Up 0.5 %

Shares of argenx stock opened at $360.23 on Monday. The firm has a market cap of $21.36 billion, a PE ratio of -70.08 and a beta of 0.65. argenx has a 12 month low of $327.73 and a 12 month high of $550.76. The stock has a 50 day moving average of $387.43 and a 200 day moving average of $420.17.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of ARGX. JPMorgan Chase & Co. increased its holdings 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 purchasing an additional 928 shares during the period. Raymond James & Associates increased its holdings 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 purchasing an additional 738 shares during the period. Raymond James Financial Services Advisors Inc. increased its holdings 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 purchasing an additional 1,116 shares during the period. Bank of New York Mellon Corp increased its holdings 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 purchasing an additional 271 shares during the period. Finally, US Bancorp DE increased its holdings 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 purchasing an additional 541 shares during the period. 60.32% of the stock is currently owned by hedge funds and other institutional investors.

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.