argenx (NASDAQ:ARGX) Announces Quarterly Earnings Results

argenx (NASDAQ:ARGX) announced its quarterly earnings results on Thursday. The company reported $1.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.98 by $0.60, Zacks reports. argenx had a negative return on equity of 1.45% and a negative net margin of 2.11%.

argenx Price Performance

Shares of NASDAQ:ARGX traded up $1.68 during trading on Thursday, hitting $624.70. 336,053 shares of the company’s stock were exchanged, compared to its average volume of 272,743. The business’s 50-day simple moving average is $642.63 and its 200 day simple moving average is $589.48. argenx has a 52-week low of $349.86 and a 52-week high of $678.21. The company has a market cap of $37.96 billion, a price-to-earnings ratio of -709.89 and a beta of 0.58.

Analyst Ratings Changes

A number of analysts have issued reports on the company. William Blair raised argenx from a “market perform” rating to an “outperform” rating in a research note on Friday, November 1st. HC Wainwright restated a “buy” rating and set a $717.00 price objective (up from $670.00) on shares of argenx in a report on Tuesday, January 14th. Guggenheim boosted their price target on argenx from $585.00 to $665.00 and gave the company a “buy” rating in a report on Friday, November 1st. Wolfe Research upgraded argenx from a “peer perform” rating to an “outperform” rating and set a $697.00 price objective for the company in a research report on Tuesday, November 12th. Finally, Scotiabank upgraded argenx from a “sector perform” rating to a “sector outperform” rating and boosted their price target for the stock from $439.00 to $715.00 in a research report on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, argenx presently has an average rating of “Moderate Buy” and a consensus target price of $658.39.

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.