Q3 2024 EPS Estimates for argenx SE Lifted by Analyst (NASDAQ:ARGX)

argenx SE (NASDAQ:ARGX) – Research analysts at William Blair upped their Q3 2024 EPS estimates for shares of argenx in a note issued to investors on Monday, June 24th. William Blair analyst M. Minter now anticipates that the company will post earnings of ($0.47) per share for the quarter, up from their prior forecast of ($0.49). William Blair has a “Market Perform” rating on the stock. The consensus estimate for argenx’s current full-year earnings is ($2.89) per share. William Blair also issued estimates for argenx’s Q4 2024 earnings at ($0.46) EPS and FY2024 earnings at ($2.09) EPS.

A number of other analysts also recently weighed in on the stock. Robert W. Baird cut their price target on shares of argenx from $505.00 to $490.00 and set an “outperform” rating for the company in a report on Friday, March 1st. Wedbush reaffirmed an “outperform” rating and set a $519.00 price target on shares of argenx in a report on Wednesday. JMP Securities cut their price target on shares of argenx from $471.00 to $468.00 and set a “market outperform” rating for the company in a report on Friday, May 10th. Wells Fargo & Company upped their price target on shares of argenx from $478.00 to $542.00 and gave the stock an “overweight” rating in a report on Monday. Finally, HC Wainwright reaffirmed a “buy” rating and set a $448.00 price target on shares of argenx in a report on Monday. Five equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $525.42.

argenx Price Performance

NASDAQ ARGX opened at $445.88 on Thursday. argenx has a 12-month low of $327.73 and a 12-month high of $550.76. The firm has a 50-day moving average price of $379.85 and a two-hundred day moving average price of $386.89.

argenx (NASDAQ:ARGX) last posted its quarterly earnings data on Monday, May 13th. The company reported ($1.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.71) by ($0.33). The business had revenue of $412.51 million during the quarter, compared to the consensus estimate 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 period in the prior year, the firm earned ($0.52) EPS.

Hedge Funds Weigh In On argenx

Several institutional investors and hedge funds have recently added to or reduced their stakes in ARGX. Price T Rowe Associates Inc. MD increased its position in argenx by 49.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,504,506 shares of the company’s stock valued at $2,167,235,000 after acquiring an additional 1,830,651 shares during the period. Capital World Investors increased its position in shares of argenx by 37.0% during the fourth quarter. Capital World Investors now owns 1,961,202 shares of the company’s stock worth $746,099,000 after buying an additional 530,181 shares during the period. Janus Henderson Group PLC increased its position in shares of argenx by 24.8% during the first quarter. Janus Henderson Group PLC now owns 2,216,648 shares of the company’s stock worth $872,690,000 after buying an additional 439,889 shares during the period. Artisan Partners Limited Partnership increased its position in shares of argenx by 12.2% during the fourth quarter. Artisan Partners Limited Partnership now owns 3,174,477 shares of the company’s stock worth $1,207,666,000 after buying an additional 346,178 shares during the period. Finally, Avoro Capital Advisors LLC increased its position in shares of argenx by 23.5% during the fourth quarter. Avoro Capital Advisors LLC now owns 1,234,567 shares of the company’s stock worth $469,666,000 after buying an additional 234,567 shares during the period. 60.32% of the stock is currently owned by institutional investors and hedge funds.

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.