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

argenx SE (NASDAQ:ARGX) – Equities research analysts at William Blair increased their Q2 2024 earnings per share estimates for shares of argenx in a report released on Thursday, April 18th. William Blair analyst M. Minter now anticipates that the company will earn ($0.83) per share for the quarter, up from their prior estimate 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.

argenx (NASDAQ:ARGX) last issued its quarterly earnings data on Thursday, February 29th. The company reported ($1.68) EPS for the quarter, missing the consensus estimate of ($1.23) by ($0.45). The company had revenue of $417.84 million during the quarter, compared to analysts’ expectations of $378.60 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 company earned ($0.70) earnings per share.

Other analysts also recently issued reports about the company. Piper Sandler increased their price objective on argenx from $518.00 to $522.00 and gave the stock an “overweight” rating in a research note on Friday, January 26th. Scotiabank upped their target price on argenx from $402.00 to $408.00 and gave the company a “sector perform” rating in a report on Tuesday, March 26th. Truist Financial upped their target price on argenx from $370.00 to $440.00 and gave the company a “buy” rating in a report on Tuesday, March 5th. Wells Fargo & Company upped their target price on argenx from $472.00 to $478.00 and gave the company an “overweight” rating in a report on Tuesday, February 20th. Finally, Robert W. Baird reduced their target price on argenx from $505.00 to $490.00 and set an “outperform” rating for the company in a report on Friday, March 1st. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $528.16.

argenx Stock Up 2.4 %

Shares of argenx stock opened at $368.75 on Monday. The company has a market cap of $21.91 billion, a PE ratio of -71.74 and a beta of 0.65. argenx has a 52 week low of $327.73 and a 52 week high of $550.76. The business has a 50 day moving average price of $386.95 and a 200-day moving average price of $419.33.

Institutional Investors Weigh In On argenx

Several institutional investors have recently made changes to their positions in the stock. Nkcfo LLC lifted its position in shares of argenx by 22.1% during the third quarter. Nkcfo LLC now owns 116 shares of the company’s stock worth $57,000 after acquiring an additional 21 shares in the last quarter. Genus Capital Management Inc. raised its position in shares of argenx by 1.6% in the third quarter. Genus Capital Management Inc. now owns 1,605 shares of the company’s stock worth $789,000 after buying an additional 25 shares in the last quarter. Wahed Invest LLC raised its position in shares of argenx by 9.6% in the fourth quarter. Wahed Invest LLC now owns 457 shares of the company’s stock worth $174,000 after buying an additional 40 shares in the last quarter. Daiwa Securities Group Inc. raised its position in shares of argenx by 2.8% in the fourth quarter. Daiwa Securities Group Inc. now owns 1,530 shares of the company’s stock worth $582,000 after buying an additional 41 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC raised its position in shares of argenx by 3.1% in the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 1,428 shares of the company’s stock worth $543,000 after buying an additional 43 shares in the last quarter. Hedge funds and other institutional investors 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.