FY2024 Earnings Forecast for argenx Issued By HC Wainwright

argenx SE (NASDAQ:ARGX) – Equities research analysts at HC Wainwright lifted their FY2024 earnings per share (EPS) estimates for shares of argenx in a report issued on Tuesday, January 14th. HC Wainwright analyst D. Tsao now anticipates that the company will post earnings of $2.30 per share for the year, up from their previous estimate of $0.78. HC Wainwright has a “Buy” rating and a $717.00 price target on the stock. The consensus estimate for argenx’s current full-year earnings is $2.17 per share. HC Wainwright also issued estimates for argenx’s Q4 2024 earnings at $1.49 EPS, Q1 2025 earnings at $1.23 EPS, Q2 2025 earnings at $1.69 EPS, Q3 2025 earnings at $1.65 EPS, Q4 2025 earnings at $1.80 EPS, FY2025 earnings at $6.36 EPS, FY2026 earnings at $18.58 EPS, FY2027 earnings at $31.03 EPS, FY2028 earnings at $43.49 EPS and FY2029 earnings at $58.70 EPS.

argenx (NASDAQ:ARGX) last posted its quarterly earnings data on Thursday, October 31st. The company reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $1.29. argenx had a negative net margin of 2.11% and a negative return on equity of 1.45%. The business had revenue of $588.88 million during the quarter, compared to the consensus estimate of $543.29 million. During the same period in the prior year, the firm earned ($1.25) EPS.

Several other research firms have also recently weighed in on ARGX. Wolfe Research raised argenx from a “peer perform” rating to an “outperform” rating and set a $697.00 price objective for the company in a research report on Tuesday, November 12th. Oppenheimer reiterated an “outperform” rating and set a $675.00 price target (up from $646.00) on shares of argenx in a report on Thursday, November 21st. Wedbush restated an “outperform” rating and issued a $655.00 price objective on shares of argenx in a research note on Tuesday, December 3rd. JMP Securities upped their target price on shares of argenx from $606.00 to $696.00 and gave the company a “market outperform” rating in a research note on Tuesday. Finally, Guggenheim increased their price target on shares of argenx from $585.00 to $665.00 and gave the company a “buy” rating in a report on Friday, November 1st. One analyst has rated the stock with a sell rating, two have assigned a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, argenx currently has a consensus rating of “Moderate Buy” and a consensus target price of $658.39.

argenx Price Performance

argenx stock opened at $640.52 on Friday. The firm has a market cap of $38.67 billion, a price-to-earnings ratio of -727.86 and a beta of 0.59. The firm has a fifty day moving average price of $620.19 and a two-hundred day moving average price of $555.67. argenx has a fifty-two week low of $349.86 and a fifty-two week high of $678.21.

Hedge Funds Weigh In On argenx

A number of hedge funds have recently modified their holdings of the stock. FMR LLC grew its position in argenx by 35.9% in the third quarter. FMR LLC now owns 4,793,472 shares of the company’s stock valued at $2,598,445,000 after acquiring an additional 1,265,486 shares during the period. Janus Henderson Group PLC boosted its stake in shares of argenx by 0.4% in the 3rd quarter. Janus Henderson Group PLC now owns 2,479,207 shares of the company’s stock valued at $1,343,797,000 after purchasing an additional 10,975 shares in the last quarter. Clearbridge Investments LLC grew its holdings in shares of argenx by 3.6% in the 2nd quarter. Clearbridge Investments LLC now owns 617,466 shares of the company’s stock worth $265,535,000 after purchasing an additional 21,189 shares during the last quarter. Wellington Management Group LLP increased its position in shares of argenx by 13.0% during the 3rd quarter. Wellington Management Group LLP now owns 482,346 shares of the company’s stock worth $261,470,000 after purchasing an additional 55,617 shares in the last quarter. Finally, Sei Investments Co. lifted its holdings in argenx by 15.2% during the 2nd quarter. Sei Investments Co. now owns 381,544 shares of the company’s stock valued at $164,079,000 after purchasing an additional 50,477 shares during the last quarter. 60.32% of the stock is owned by institutional investors and hedge funds.

argenx Company Profile

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.