FY2024 Earnings Forecast for argenx SE Issued By Wedbush (NASDAQ:ARGX)

argenx SE (NASDAQ:ARGX) – Wedbush cut their FY2024 earnings per share estimates for shares of argenx in a report issued on Monday, June 17th. Wedbush analyst D. Nierengarten now anticipates that the company will post earnings per share of ($4.42) for the year, down from their previous forecast of ($4.40). 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 Q4 2024 earnings at ($0.91) EPS and Q1 2025 earnings at ($0.19) 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). The company had revenue of $412.51 million for 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 last year, the business posted ($0.52) EPS.

ARGX has been the topic of several other research reports. HC Wainwright reaffirmed a “buy” rating and set a $448.00 target price on shares of argenx in a research report on Friday, June 14th. Robert W. Baird dropped their target price on argenx from $505.00 to $490.00 and set an “outperform” rating on the stock in a research report on Friday, March 1st. William Blair reaffirmed a “market perform” rating on shares of argenx in a research report on Monday. Scotiabank increased their target price on argenx from $402.00 to $408.00 and gave the company a “sector perform” rating in a research report on Tuesday, March 26th. Finally, Truist Financial raised their price objective on argenx from $370.00 to $440.00 and gave the stock a “buy” rating in a research report on Tuesday, March 5th. Five investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $520.68.

argenx Trading Down 0.1 %

Shares of NASDAQ ARGX opened at $377.96 on Wednesday. The stock has a market capitalization of $22.46 billion, a PE ratio of -66.78 and a beta of 0.65. The stock’s fifty day simple moving average is $374.86 and its two-hundred day simple moving average is $388.01. argenx has a 12-month low of $327.73 and a 12-month high of $550.76.

Institutional Investors Weigh In On argenx

Several large investors have recently bought and sold shares of the company. Price T Rowe Associates Inc. MD increased its stake in argenx by 49.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,504,506 shares of the company’s stock worth $2,167,235,000 after buying an additional 1,830,651 shares in the last quarter. Artisan Partners Limited Partnership increased its stake in argenx by 12.2% during the 4th 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 in the last quarter. Janus Henderson Group PLC increased its stake in argenx by 24.8% during the 1st 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 in the last quarter. Capital World Investors increased its stake in argenx by 37.0% during the 4th 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 in the last quarter. Finally, Avoro Capital Advisors LLC increased its stake in argenx by 0.3% during the 1st quarter. Avoro Capital Advisors LLC now owns 1,238,467 shares of the company’s stock worth $487,609,000 after buying an additional 3,900 shares in the last quarter. 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.