Q1 2024 EPS Estimates for argenx SE Increased by William Blair (NASDAQ:ARGX)

argenx SE (NASDAQ:ARGX) – Investment analysts at William Blair increased their Q1 2024 earnings estimates for shares of argenx in a note issued to investors on Wednesday, April 17th. William Blair analyst M. Minter now forecasts that the company will post earnings per share of ($0.89) for the quarter, up from their previous estimate of ($1.24). The consensus estimate for argenx’s current full-year earnings is ($2.11) per share. William Blair also issued estimates for argenx’s FY2024 earnings at ($2.96) EPS and FY2025 earnings at $2.78 EPS.

argenx (NASDAQ:ARGX) last released its earnings results on Thursday, February 29th. The company reported ($1.68) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.23) by ($0.45). The business had revenue of $417.84 million for the quarter, compared to analyst estimates of $378.60 million. argenx had a negative return on equity of 16.97% and a negative net margin of 23.26%. During the same quarter in the previous year, the firm posted ($0.70) EPS.

ARGX has been the topic of several other reports. Scotiabank boosted their target price on shares of argenx from $402.00 to $408.00 and gave the stock a “sector perform” rating in a research report on Tuesday, March 26th. HC Wainwright restated a “buy” rating and set a $451.00 target price on shares of argenx in a research report on Thursday. Wells Fargo & Company lifted their price target on shares of argenx from $472.00 to $478.00 and gave the company an “overweight” rating in a research report on Tuesday, February 20th. Truist Financial upped their price target on argenx from $370.00 to $440.00 and gave the stock a “buy” rating in a report on Tuesday, March 5th. Finally, Piper Sandler lifted their price objective on argenx from $518.00 to $522.00 and gave the stock an “overweight” rating in a report on Friday, January 26th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, argenx has an average rating of “Moderate Buy” and a consensus price target of $528.16.

argenx Price Performance

Shares of ARGX stock opened at $360.23 on Friday. The business’s fifty day moving average price is $387.43 and its 200 day moving average price is $420.93. The firm has a market capitalization of $21.36 billion, a PE ratio of -70.08 and a beta of 0.65. argenx has a 1-year low of $327.73 and a 1-year high of $550.76.

Institutional Trading of argenx

A number of hedge funds have recently bought and sold shares of the company. Maryland State Retirement & Pension System lifted its stake in shares of argenx by 60.4% during the 1st quarter. Maryland State Retirement & Pension System now owns 3,093 shares of the company’s stock worth $1,121,000 after purchasing an additional 1,165 shares during the period. New Century Financial Group LLC lifted its position in argenx by 9.5% during the first quarter. New Century Financial Group LLC now owns 610 shares of the company’s stock worth $240,000 after buying an additional 53 shares during the period. Legacy Wealth Asset Management LLC boosted its stake in argenx by 5.2% in the 1st quarter. Legacy Wealth Asset Management LLC now owns 1,368 shares of the company’s stock worth $539,000 after buying an additional 68 shares during the last quarter. First Trust Direct Indexing L.P. boosted its stake in argenx by 9.6% in the 1st quarter. First Trust Direct Indexing L.P. now owns 1,818 shares of the company’s stock worth $716,000 after buying an additional 159 shares during the last quarter. Finally, Norden Group LLC purchased a new stake in argenx in the 1st quarter valued at about $1,465,000. Institutional investors and hedge funds 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.