William Blair Has Positive Estimate for argenx Q4 Earnings

argenx SE (NASDAQ:ARGX) – Equities researchers at William Blair lifted their Q4 2024 earnings per share estimates for shares of argenx in a note issued to investors on Thursday, October 31st. William Blair analyst M. Minter now expects that the company will post earnings per share of $0.35 for the quarter, up from their previous forecast of $0.34. William Blair has a “Outperform” rating on the stock. The consensus estimate for argenx’s current full-year earnings is ($0.36) per share.

argenx (NASDAQ:ARGX) last posted its earnings results on Thursday, October 31st. The company reported $1.39 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $1.29. The business had revenue of $588.88 million during the quarter, compared to analyst estimates of $543.29 million. argenx had a negative return on equity of 0.96% and a negative net margin of 2.11%. During the same quarter last year, the company earned ($1.25) EPS.

A number of other analysts have also commented on the company. Barclays raised argenx from an “equal weight” rating to an “overweight” rating in a report on Tuesday, August 6th. JPMorgan Chase & Co. lifted their price objective on argenx from $500.00 to $640.00 and gave the stock an “overweight” rating in a report on Friday, August 23rd. Piper Sandler lifted their price objective on argenx from $553.00 to $620.00 and gave the stock an “overweight” rating in a report on Friday. Evercore ISI lifted their price objective on argenx from $478.00 to $533.00 and gave the stock an “outperform” rating in a report on Friday, July 12th. Finally, Baird R W lowered argenx from a “strong-buy” rating to a “hold” rating in a report on Friday. Five analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $596.78.

argenx Price Performance

argenx stock opened at $595.58 on Monday. The stock has a fifty day simple moving average of $539.46 and a two-hundred day simple moving average of $466.48. argenx has a 12 month low of $327.73 and a 12 month high of $610.73.

Institutional Investors Weigh In On argenx

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. TD Asset Management Inc grew its stake in shares of argenx by 15.4% during the first quarter. TD Asset Management Inc now owns 223,695 shares of the company’s stock valued at $88,073,000 after buying an additional 29,810 shares during the last quarter. Seven Eight Capital LP lifted its holdings in argenx by 66.4% during the first quarter. Seven Eight Capital LP now owns 3,110 shares of the company’s stock worth $1,224,000 after buying an additional 1,241 shares during the period. Clearbridge Investments LLC lifted its holdings in argenx by 36.5% during the first quarter. Clearbridge Investments LLC now owns 596,277 shares of the company’s stock worth $234,766,000 after buying an additional 159,480 shares during the period. FORA Capital LLC purchased a new stake in shares of argenx during the 1st quarter valued at $2,024,000. Finally, Mediolanum International Funds Ltd purchased a new stake in shares of argenx during the 1st quarter valued at $4,570,000. 60.32% of the stock is currently owned by hedge funds and other institutional investors.

About argenx

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.