argenx SE (NASDAQ:ARGX) Expected to Post Q2 2024 Earnings of $0.07 Per Share

argenx SE (NASDAQ:ARGX) – Equities research analysts at William Blair boosted their Q2 2024 earnings per share (EPS) estimates for shares of argenx in a note issued to investors on Monday, June 24th. William Blair analyst M. Minter now expects that the company will earn $0.07 per share for the quarter, up from their previous forecast of $0.06. William Blair has a “Market Perform” rating on the stock. The consensus estimate for argenx’s current full-year earnings is ($2.75) per share. William Blair also issued estimates for argenx’s Q1 2025 earnings at $0.58 EPS, Q2 2025 earnings at $0.89 EPS, Q3 2025 earnings at $1.46 EPS, Q4 2025 earnings at $1.88 EPS, FY2025 earnings at $4.75 EPS and FY2026 earnings at $15.84 EPS.

argenx (NASDAQ:ARGX) last issued its earnings results on Monday, May 13th. The company reported ($1.04) EPS for the quarter, missing analysts’ consensus estimates of ($0.71) by ($0.33). The firm had revenue of $412.51 million during the quarter, compared to analyst estimates of $404.03 million. argenx had a negative net margin of 22.58% and a negative return on equity of 14.14%. During the same quarter in the previous year, the company posted ($0.52) earnings per share.

Several other research analysts have also issued reports on ARGX. Truist Financial increased their price target on shares of argenx from $440.00 to $480.00 and gave the stock a “buy” rating in a research report on Tuesday. Stifel Nicolaus increased their target price on argenx from $485.00 to $500.00 and gave the stock a “buy” rating in a report on Monday. Wells Fargo & Company raised their target price on argenx from $478.00 to $542.00 and gave the stock an “overweight” rating in a research report on Monday. Wedbush reiterated an “outperform” rating and issued a $521.00 price target on shares of argenx in a research report on Thursday, April 18th. Finally, Bank of America reissued a “buy” rating and set a $607.00 price objective (up from $535.00) on shares of argenx in a report on Monday. Five analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $525.53.

argenx Stock Up 2.5 %

NASDAQ:ARGX opened at $451.55 on Wednesday. The company has a 50-day moving average of $378.25 and a 200-day moving average of $386.48. argenx has a 52 week low of $327.73 and a 52 week high of $550.76.

Institutional Investors Weigh In On argenx

A number of hedge funds and other institutional investors have recently bought and sold shares of ARGX. DekaBank Deutsche Girozentrale grew its holdings in shares of argenx by 1.5% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 8,445 shares of the company’s stock valued at $3,320,000 after acquiring an additional 128 shares in the last quarter. Cetera Advisors LLC bought a new position in shares of argenx in the first quarter valued at $419,000. Wahed Invest LLC raised its position in argenx by 43.5% during the first quarter. Wahed Invest LLC now owns 656 shares of the company’s stock worth $258,000 after acquiring an additional 199 shares in the last quarter. Dynasty Wealth Management LLC acquired a new stake in argenx in the first quarter valued at $213,000. Finally, Iron Triangle Partners LP bought a new position in shares of argenx in the 1st quarter valued at about $17,717,000. Institutional investors and hedge funds own 60.32% of the company’s stock.

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.