Zacks: Brokerages Expect argenx SE (NASDAQ:ARGX) Will Announce Quarterly Sales of $44.46 Million

Equities research analysts expect that argenx SE (NASDAQ:ARGX) will post sales of $44.46 million for the current quarter, according to Zacks Investment Research. Six analysts have issued estimates for argenx’s earnings, with the highest sales estimate coming in at $186.66 million and the lowest estimate coming in at $7.50 million. argenx posted sales of $3.54 million during the same quarter last year, which would indicate a positive year over year growth rate of 1,155.9%. The firm is scheduled to issue its next quarterly earnings report on Friday, July 30th.

On average, analysts expect that argenx will report full-year sales of $223.43 million for the current financial year, with estimates ranging from $38.60 million to $354.07 million. For the next financial year, analysts forecast that the business will post sales of $218.50 million, with estimates ranging from $110.58 million to $371.70 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that follow argenx.

argenx (NASDAQ:ARGX) last issued its quarterly earnings results on Friday, May 14th. The company reported ($0.81) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($3.14) by $2.33. argenx had a negative return on equity of 50.37% and a negative net margin of 298.93%.

Several research analysts have issued reports on ARGX shares. Barclays reiterated an “equal weight” rating on shares of argenx in a research report on Wednesday, February 10th. Wedbush cut their price objective on argenx from $356.00 to $344.00 and set an “outperform” rating for the company in a research report on Tuesday. Zacks Investment Research cut argenx from a “buy” rating to a “hold” rating in a research report on Tuesday, May 18th. Piper Sandler cut their price objective on argenx from $309.00 to $250.00 and set a “neutral” rating for the company in a research report on Monday. Finally, Morgan Stanley raised their price target on argenx from $321.00 to $324.00 and gave the company an “overweight” rating in a research report on Tuesday, May 18th. Seven research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $325.62.

Several institutional investors and hedge funds have recently bought and sold shares of ARGX. HighVista Strategies LLC boosted its stake in argenx by 35.2% in the 4th quarter. HighVista Strategies LLC now owns 2,783 shares of the company’s stock worth $818,000 after buying an additional 725 shares during the last quarter. Handelsbanken Fonder AB boosted its stake in argenx by 1.0% in the 4th quarter. Handelsbanken Fonder AB now owns 9,900 shares of the company’s stock worth $2,911,000 after buying an additional 100 shares during the last quarter. Citigroup Inc. boosted its stake in argenx by 2.1% in the 4th quarter. Citigroup Inc. now owns 3,580 shares of the company’s stock worth $1,052,000 after buying an additional 72 shares during the last quarter. Guggenheim Capital LLC acquired a new stake in argenx in the 4th quarter worth about $519,000. Finally, Wetherby Asset Management Inc. acquired a new stake in argenx in the 4th quarter worth about $210,000. 55.50% of the stock is currently owned by institutional investors and hedge funds.

NASDAQ:ARGX traded up $18.57 during trading hours on Thursday, hitting $308.90. The company’s stock had a trading volume of 235,080 shares, compared to its average volume of 196,451. The company has a 50-day moving average price of $275.99. The firm has a market capitalization of $15.85 billion, a P/E ratio of -25.49 and a beta of 0.92. argenx has a 52-week low of $210.35 and a 52-week high of $382.15.

argenx Company Profile

argenx SE, a clinical-stage biotechnology company, focuses on developing antibody-based therapies for the treatment of autoimmune diseases, hematology, and cancer. It is developing its lead product candidate, efgartigimod, for the treatment of patients with myasthenia gravis; immune thrombocytopenia in Phase III; pemphigus vulgaris in Phase III; chronic inflammatory demyelinating polyneuropathy in Phase III; and ENHANZE SC in pre-clinical stages.

Read More: What are convertible shares? 

Get a free copy of the Zacks research report on argenx (ARGX)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for argenx (NASDAQ:ARGX)

Receive News & Ratings for argenx Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for argenx and related companies with MarketBeat.com's FREE daily email newsletter.