William Blair Comments on argenx SE’s Q2 2024 Earnings (NASDAQ:ARGX)

argenx SE (NASDAQ:ARGX) – Equities researchers at William Blair lifted their Q2 2024 earnings estimates for argenx in a report released on Thursday, April 18th. William Blair analyst M. Minter now expects that the company will post earnings per share of ($0.83) for the quarter, up from their previous forecast of ($1.03). The consensus estimate for argenx’s current full-year earnings is ($2.10) per share. William Blair also issued estimates for argenx’s Q3 2024 earnings at ($0.63) EPS, Q4 2024 earnings at ($0.62) EPS, Q1 2025 earnings at $0.16 EPS, Q2 2025 earnings at $0.51 EPS, Q3 2025 earnings at $0.77 EPS and Q4 2025 earnings at $1.35 EPS.

A number of other research analysts have also recently issued reports on ARGX. Robert W. Baird decreased their price target on shares of argenx from $505.00 to $490.00 and set an “outperform” rating for the company in a report on Friday, March 1st. Wolfe Research began coverage on shares of argenx in a report on Thursday, February 15th. They issued a “peer perform” rating for the company. Wells Fargo & Company raised their price target on shares of argenx from $472.00 to $478.00 and gave the stock an “overweight” rating in a report on Tuesday, February 20th. JMP Securities reaffirmed a “market outperform” rating and issued a $471.00 price target on shares of argenx in a report on Friday, March 22nd. Finally, Piper Sandler raised their price target on shares of argenx from $518.00 to $522.00 and gave the stock an “overweight” rating in a report on Friday, January 26th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $528.16.

argenx Trading Up 2.4 %

NASDAQ ARGX opened at $368.75 on Monday. The company has a fifty day simple moving average of $386.95 and a two-hundred day simple moving average of $419.33. The stock has a market cap of $21.91 billion, a P/E ratio of -71.74 and a beta of 0.65. argenx has a 12-month low of $327.73 and a 12-month high of $550.76.

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

Institutional Trading of argenx

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ARGX. Capital World Investors grew its position in shares of argenx by 37.0% in the fourth quarter. Capital World Investors now owns 1,961,202 shares of the company’s stock valued at $746,099,000 after purchasing an additional 530,181 shares during the period. Massachusetts Financial Services Co. MA grew its position in shares of argenx by 339.1% in the third quarter. Massachusetts Financial Services Co. MA now owns 581,586 shares of the company’s stock valued at $285,925,000 after purchasing an additional 449,151 shares during the period. Jennison Associates LLC grew its position in shares of argenx by 32.2% in the third quarter. Jennison Associates LLC now owns 1,511,745 shares of the company’s stock valued at $743,219,000 after purchasing an additional 368,367 shares during the period. Artisan Partners Limited Partnership grew its position in shares of argenx by 12.2% in the fourth quarter. Artisan Partners Limited Partnership now owns 3,174,477 shares of the company’s stock valued at $1,207,666,000 after purchasing an additional 346,178 shares during the period. Finally, Invesco Ltd. grew its position in shares of argenx by 377.0% in the third quarter. Invesco Ltd. now owns 430,787 shares of the company’s stock valued at $211,788,000 after purchasing an additional 340,482 shares during the period. Institutional investors and hedge funds own 60.32% of the company’s stock.

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.