argenx (NASDAQ:ARGX) Posts Earnings Results, Beats Expectations By $1.34 EPS

argenx (NASDAQ:ARGX) released its quarterly earnings data on Thursday. The company reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.89) by $1.34, Zacks reports. The firm had revenue of $489.43 million during the quarter, compared to analyst estimates of $436.66 million. argenx had a negative return on equity of 9.97% and a negative net margin of 12.31%. During the same quarter in the prior year, the firm posted ($1.69) earnings per share.

argenx Trading Up 1.7 %

NASDAQ ARGX opened at $494.46 on Friday. The stock has a 50-day moving average of $413.06 and a 200 day moving average of $394.35. argenx has a one year low of $327.73 and a one year high of $532.59.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Morgan Stanley dropped their price target on argenx from $515.00 to $510.00 and set an “overweight” rating for the company in a research note on Tuesday, May 28th. JMP Securities lowered their price objective on argenx from $471.00 to $468.00 and set a “market outperform” rating for the company in a research report on Friday, May 10th. Evercore ISI raised their price objective on argenx from $478.00 to $533.00 and gave the company an “outperform” rating in a research report on Friday, July 12th. Guggenheim raised their price objective on argenx from $545.00 to $585.00 and gave the company a “buy” rating in a research report on Friday. Finally, Wedbush raised their price objective on argenx from $519.00 to $560.00 and gave the company an “outperform” rating in a research report on Friday. Three equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $539.05.

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.