William Blair Has Positive Forecast for argenx Q4 Earnings

argenx SE (NASDAQ:ARGX) – Investment analysts at William Blair upped their Q4 2024 earnings per share (EPS) estimates for shares of argenx in a report released on Thursday, October 31st. William Blair analyst M. Minter now forecasts that the company will post earnings of $0.35 per share for the quarter, up from their prior forecast of $0.34. William Blair has a “Outperform” rating on the stock. The consensus estimate for argenx’s current full-year earnings is ($0.22) per share.

argenx (NASDAQ:ARGX) last issued its earnings results on Thursday, October 31st. The company reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $1.29. argenx had a negative net margin of 2.11% and a negative return on equity of 1.45%. The company had revenue of $588.88 million for the quarter, compared to analysts’ expectations of $543.29 million. During the same period in the prior year, the business earned ($1.25) EPS.

A number of other analysts have also recently weighed in on ARGX. Barclays upgraded shares of argenx from an “equal weight” rating to an “overweight” rating in a report on Tuesday, August 6th. JPMorgan Chase & Co. upped their price target on argenx from $640.00 to $670.00 and gave the stock an “overweight” rating in a research report on Monday. Robert W. Baird cut argenx from an “outperform” rating to a “neutral” rating and raised their price objective for the stock from $515.00 to $650.00 in a research report on Friday, November 1st. JMP Securities upped their target price on argenx from $497.00 to $606.00 and gave the company a “market outperform” rating in a research report on Friday, November 1st. Finally, Oppenheimer raised their price target on argenx from $560.00 to $646.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Four equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $615.50.

argenx Stock Performance

NASDAQ ARGX opened at $602.47 on Monday. The company has a market cap of $36.03 billion, a PE ratio of -676.82 and a beta of 0.61. argenx has a 52-week low of $327.73 and a 52-week high of $611.22. The firm’s 50 day moving average price is $540.89 and its 200-day moving average price is $468.81.

Hedge Funds Weigh In On argenx

Several institutional investors have recently made changes to their positions in ARGX. Victory Capital Management Inc. boosted its holdings in argenx by 69.8% during the third quarter. Victory Capital Management Inc. now owns 1,562 shares of the company’s stock worth $847,000 after buying an additional 642 shares in the last quarter. Crossmark Global Holdings Inc. raised its position in argenx by 100.4% during the third quarter. Crossmark Global Holdings Inc. now owns 9,462 shares of the company’s stock worth $5,130,000 after acquiring an additional 4,741 shares during the period. TimesSquare Capital Management LLC boosted its holdings in argenx by 8.8% in the 3rd quarter. TimesSquare Capital Management LLC now owns 109,490 shares of the company’s stock worth $59,352,000 after buying an additional 8,840 shares during the last quarter. Assetmark Inc. lifted its holdings in argenx by 8.3% in the 3rd quarter. Assetmark Inc. now owns 7,769 shares of the company’s stock valued at $4,211,000 after purchasing an additional 598 shares in the last quarter. Finally, Keudell Morrison Wealth Management acquired a new stake in argenx during the 3rd quarter worth $207,000. 60.32% of the stock is owned by hedge funds and other institutional investors.

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.