argenx SE Forecasted to Earn Q1 2024 Earnings of ($2.56) Per Share (NASDAQ:ARGX)

Posted by on Jun 24th, 2023

argenx SE (NASDAQ:ARGX – Get Rating) – Analysts at Wedbush issued their Q1 2024 earnings per share (EPS) estimates for argenx in a note issued to investors on Wednesday, June 21st. Wedbush analyst D. Nierengarten expects that the company will post earnings per share of ($2.56) for the quarter. Wedbush currently has a “Outperform” rating and a $432.00 target price on the stock. The consensus estimate for argenx’s current full-year earnings is ($6.33) per share. Wedbush also issued estimates for argenx’s Q2 2024 earnings at ($2.44) EPS, Q4 2024 earnings at ($1.72) EPS and FY2027 earnings at $34.57 EPS.

argenx (NASDAQ:ARGX – Get Rating) last released its quarterly earnings results on Thursday, May 4th. The company reported ($0.52) earnings per share for the quarter, beating the consensus estimate of ($2.34) by $1.82. The business had revenue of $229.76 million during the quarter, compared to analysts’ expectations of $191.24 million. argenx had a negative return on equity of 35.36% and a negative net margin of 79.45%.

Several other equities analysts have also commented on the stock. Citigroup assumed coverage on shares of argenx in a research report on Tuesday, April 25th. They set a “buy” rating and a $450.00 price objective for the company. Robert W. Baird upgraded argenx from a “neutral” rating to an “outperform” rating and set a $460.00 price target for the company in a research report on Tuesday, March 14th. Truist Financial boosted their price objective on argenx from $420.00 to $440.00 in a research note on Friday, May 5th. JMP Securities dropped their target price on argenx from $448.00 to $445.00 in a report on Friday, May 5th. Finally, 888 reissued a “maintains” rating on shares of argenx in a research report on Friday, May 5th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat.com, argenx presently has a consensus rating of “Moderate Buy” and a consensus target price of $456.16.

argenx Stock Performance

ARGX stock opened at $396.39 on Friday. The firm has a fifty day moving average price of $397.45 and a 200 day moving average price of $382.05. argenx has a fifty-two week low of $333.07 and a fifty-two week high of $423.99. The firm has a market cap of $22.07 billion, a PE ratio of -42.67 and a beta of 0.74.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. KB Financial Partners LLC lifted its holdings in shares of argenx by 112.5% in the 1st quarter. KB Financial Partners LLC now owns 85 shares of the company’s stock worth $27,000 after buying an additional 45 shares during the period. CI Investments Inc. raised its holdings in shares of argenx by 202.6% in the fourth quarter. CI Investments Inc. now owns 79 shares of the company’s stock valued at $30,000 after acquiring an additional 156 shares in the last quarter. Toronto Dominion Bank purchased a new stake in argenx in the first quarter worth about $36,000. ANTIPODES PARTNERS Ltd bought a new position in argenx during the 4th quarter worth about $37,000. Finally, Ronald Blue Trust Inc. increased its position in argenx by 728.6% during the 4th quarter. Ronald Blue Trust Inc. now owns 116 shares of the company’s stock valued at $41,000 after purchasing an additional 102 shares during the period. Institutional investors own 55.90% of the company’s stock.

About argenx

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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.

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Earnings History and Estimates for argenx (NASDAQ:ARGX)

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