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

argenx SE (NASDAQ:ARGX) – Research analysts at William Blair increased their Q3 2024 earnings per share (EPS) estimates for argenx in a report issued 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.

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). 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 in the previous year, the firm earned ($0.52) earnings per share.

A number of other equities research analysts have also recently weighed in on ARGX. Morgan Stanley cut their price target on argenx from $515.00 to $510.00 and set an “overweight” rating on the stock in a report on Tuesday, May 28th. Piper Sandler lifted their price target on argenx from $522.00 to $535.00 and gave the company an “overweight” rating in a report on Monday. HC Wainwright reaffirmed a “buy” rating and set a $448.00 price target on shares of argenx in a report on Monday. Bank of America reaffirmed a “buy” rating and set a $607.00 price target (up previously from $535.00) on shares of argenx in a report on Monday. Finally, Scotiabank lifted their price target on argenx from $402.00 to $408.00 and gave the company a “sector perform” rating in a report on Tuesday, March 26th. Five investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $525.42.

argenx Stock Performance

Shares of ARGX stock opened at $445.88 on Thursday. The business has a 50 day moving average of $379.85 and a two-hundred day moving average of $386.89. argenx has a 52 week low of $327.73 and a 52 week high of $550.76.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of ARGX. DekaBank Deutsche Girozentrale increased its stake in shares of argenx by 1.5% in the first quarter. DekaBank Deutsche Girozentrale now owns 8,445 shares of the company’s stock worth $3,320,000 after acquiring an additional 128 shares during the last quarter. Cetera Advisors LLC acquired a new position in shares of argenx in the first quarter worth $419,000. Wahed Invest LLC increased its stake in shares of argenx by 43.5% in the first quarter. Wahed Invest LLC now owns 656 shares of the company’s stock worth $258,000 after acquiring an additional 199 shares during the last quarter. Dynasty Wealth Management LLC acquired a new position in shares of argenx in the first quarter worth $213,000. Finally, Iron Triangle Partners LP acquired a new position in shares of argenx in the first quarter worth $17,717,000. 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.