argenx (NASDAQ:ARGX) Announces Quarterly Earnings Results, Misses Estimates By $0.33 EPS

argenx (NASDAQ:ARGX) released its quarterly earnings data on Thursday. The company reported ($1.04) EPS for the quarter, missing the consensus estimate of ($0.71) by ($0.33), Zacks reports. The business had revenue of $412.51 million during the quarter, compared to the consensus estimate of $404.03 million. argenx had a negative return on equity of 16.97% and a negative net margin of 23.26%. During the same period last year, the business posted ($0.52) earnings per share.

argenx Stock Down 2.3 %

Shares of NASDAQ:ARGX traded down $8.84 during midday trading on Friday, hitting $373.71. 197,886 shares of the stock traded hands, compared to its average volume of 309,715. The stock has a market capitalization of $22.21 billion, a PE ratio of -72.48 and a beta of 0.67. The business’s 50 day moving average is $383.02 and its two-hundred day moving average is $410.32. argenx has a one year low of $327.73 and a one year high of $550.76.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Truist Financial raised their price target on shares of argenx from $370.00 to $440.00 and gave the company a “buy” rating in a report on Tuesday, March 5th. Piper Sandler raised their price target on shares of argenx from $518.00 to $522.00 and gave the company an “overweight” rating in a report on Friday, January 26th. Wells Fargo & Company raised their price target on shares of argenx from $472.00 to $478.00 and gave the company an “overweight” rating in a report on Tuesday, February 20th. Robert W. Baird cut 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. Finally, Wedbush reissued an “outperform” rating and issued a $521.00 price target on shares of argenx in a report on Thursday, April 18th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $528.00.

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.