argenx SE (NASDAQ:ARGX) to Post Q3 2024 Earnings of ($1.01) Per Share, Wedbush Forecasts

argenx SE (NASDAQ:ARGX) – Equities research analysts at Wedbush upped their Q3 2024 earnings per share estimates for argenx in a note issued to investors on Tuesday, March 26th. Wedbush analyst D. Nierengarten now forecasts that the company will earn ($1.01) per share for the quarter, up from their previous estimate of ($1.02). The consensus estimate for argenx’s current full-year earnings is ($2.07) per share. Wedbush also issued estimates for argenx’s Q4 2024 earnings at ($0.95) EPS, FY2024 earnings at ($3.81) EPS, FY2026 earnings at $13.45 EPS and FY2027 earnings at $33.82 EPS.

argenx (NASDAQ:ARGX) last released its quarterly earnings data 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 during the quarter, compared to the consensus estimate 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 in the prior year, the company earned ($0.70) EPS.

A number of other brokerages have also weighed in on ARGX. William Blair lowered argenx from an “outperform” rating to a “market perform” rating in a research note on Wednesday, December 20th. TD Cowen increased their target price on argenx from $612.00 to $641.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 12th. Robert W. Baird reduced their price target on argenx from $505.00 to $490.00 and set an “outperform” rating on the stock in a research report on Friday, March 1st. JPMorgan Chase & Co. dropped their price objective on argenx from $615.00 to $560.00 and set an “overweight” rating for the company in a report on Tuesday, December 5th. Finally, Evercore ISI dropped their price objective on argenx from $594.00 to $436.00 and set an “outperform” rating for the company in a report on Thursday, December 21st. One analyst has rated the stock with a sell rating, five have issued a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $530.74.

argenx Stock Performance

NASDAQ:ARGX opened at $398.59 on Thursday. The stock’s 50 day moving average price is $387.39 and its two-hundred day moving average price is $435.23. argenx has a 12-month low of $327.73 and a 12-month high of $550.76.

Institutional Trading of argenx

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Capital World Investors grew its holdings 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 acquiring an additional 530,181 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of argenx by 339.1% during the third quarter. Massachusetts Financial Services Co. MA now owns 581,586 shares of the company’s stock worth $285,925,000 after acquiring an additional 449,151 shares in the last quarter. Morgan Stanley raised its position in shares of argenx by 236.9% in the fourth quarter. Morgan Stanley now owns 630,330 shares of the company’s stock worth $238,788,000 after buying an additional 443,217 shares in the last quarter. Jennison Associates LLC raised 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 worth $743,219,000 after buying an additional 368,367 shares in the last quarter. Finally, Artisan Partners Limited Partnership raised 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 worth $1,207,666,000 after buying an additional 346,178 shares in the last quarter. 60.32% of the stock is owned by institutional investors.

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, the Netherlands, Belgium, Japan, Switzerland, Germany, France, Canada, the United Kingdom, and Italy. Its lead product candidate is efgartigimod for the treatment of patients with myasthenia gravis, immune thrombocytopenia, pemphigus vulgaris, pemphigus foliaceus, chronic inflammatory demyelinating polyneuropathy, bullous pemphigoid, and idiopathic inflammatory myopathy; and ENHANZE SC.