Q2 2024 Earnings Forecast for argenx SE Issued By Wedbush (NASDAQ:ARGX)

argenx SE (NASDAQ:ARGX) – Research analysts at Wedbush cut their Q2 2024 earnings per share estimates for argenx in a research note issued on Sunday, June 23rd. Wedbush analyst D. Nierengarten now anticipates that the company will post earnings per share of ($1.67) for the quarter, down from their previous estimate of ($1.29). Wedbush has a “Outperform” rating and a $521.00 price objective on the stock. The consensus estimate for argenx’s current full-year earnings is ($2.75) per share. Wedbush also issued estimates for argenx’s Q3 2024 earnings at ($1.58) EPS, Q4 2024 earnings at ($1.34) EPS, FY2024 earnings at ($5.63) EPS, Q1 2025 earnings at ($0.63) EPS, Q2 2025 earnings at ($0.36) EPS, Q3 2025 earnings at ($0.05) EPS, Q4 2025 earnings at $0.20 EPS, FY2025 earnings at ($0.83) EPS, FY2026 earnings at $9.92 EPS and FY2027 earnings at $28.75 EPS.

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

A number of other equities analysts also recently commented on the stock. Truist Financial lifted their target price on shares of argenx from $440.00 to $480.00 and gave the stock a “buy” rating in a research note on Tuesday. HC Wainwright reiterated a “buy” rating and issued a $448.00 price objective on shares of argenx in a report on Monday. Morgan Stanley cut their target price on argenx from $515.00 to $510.00 and set an “overweight” rating for the company in a research note on Tuesday, May 28th. Scotiabank raised their price objective on argenx from $402.00 to $408.00 and gave the stock a “sector perform” rating in a research report on Tuesday, March 26th. Finally, JPMorgan Chase & Co. decreased their target price on shares of argenx from $560.00 to $500.00 and set an “overweight” rating on the stock in a research report on Monday, May 13th. Five investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, argenx has a consensus rating of “Moderate Buy” and an average target price of $525.53.

argenx Stock Up 2.5 %

argenx stock opened at $451.55 on Wednesday. argenx has a 52-week low of $327.73 and a 52-week high of $550.76. The company has a fifty day simple moving average of $378.25 and a 200-day simple moving average of $386.48.

Hedge Funds Weigh In On argenx

Large investors have recently bought and sold shares of the business. Parkside Financial Bank & Trust acquired a new position in shares of argenx during the 3rd quarter worth about $28,000. GAMMA Investing LLC boosted its holdings in argenx by 420.0% in the first quarter. GAMMA Investing LLC now owns 78 shares of the company’s stock valued at $31,000 after purchasing an additional 63 shares in the last quarter. FNY Investment Advisers LLC purchased a new position in argenx in the fourth quarter valued at approximately $38,000. Mather Group LLC. purchased a new position in argenx in the first quarter valued at approximately $38,000. Finally, Benjamin F. Edwards & Company Inc. acquired a new stake in argenx during the fourth quarter worth approximately $60,000. Hedge funds and other institutional investors 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.