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

argenx SE (NASDAQ:ARGX) – Equities researchers at Wedbush boosted their Q3 2024 earnings per share (EPS) estimates for argenx in a report issued on Tuesday, March 26th. Wedbush analyst D. Nierengarten now forecasts that the company will post earnings per share of ($1.01) for the quarter, up from their previous forecast 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.

ARGX has been the topic of several other reports. Evercore ISI dropped their target price on argenx from $594.00 to $436.00 and set an “outperform” rating on the stock in a research report on Thursday, December 21st. Piper Sandler raised 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. Wolfe Research began coverage on argenx in a research note on Thursday, February 15th. They issued a “peer perform” rating on the stock. Deutsche Bank Aktiengesellschaft downgraded argenx from a “buy” rating to a “hold” rating in a research note on Wednesday, December 20th. Finally, JPMorgan Chase & Co. decreased their price objective on argenx from $615.00 to $560.00 and set an “overweight” rating on the stock in a research note on Tuesday, December 5th. One analyst has rated the stock with a sell rating, five have issued a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $530.74.

argenx Price Performance

Shares of NASDAQ:ARGX opened at $398.59 on Thursday. The stock’s 50-day simple moving average is $387.39 and its two-hundred day simple moving average is $435.23. argenx has a 52-week low of $327.73 and a 52-week high of $550.76.

argenx (NASDAQ:ARGX) last announced its earnings results 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 firm 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 in the previous year, the business posted ($0.70) earnings per share.

Hedge Funds Weigh In On argenx

Institutional investors and hedge funds have recently modified their holdings of the stock. Wahed Invest LLC boosted its holdings in argenx by 9.6% during the 4th quarter. Wahed Invest LLC now owns 457 shares of the company’s stock valued at $174,000 after acquiring an additional 40 shares during the period. Wellington Management Group LLP boosted its holdings in argenx by 26.2% during the 4th quarter. Wellington Management Group LLP now owns 279,168 shares of the company’s stock valued at $106,204,000 after acquiring an additional 57,956 shares during the period. Chartwell Investment Partners LLC boosted its holdings in argenx by 13.1% during the 4th quarter. Chartwell Investment Partners LLC now owns 1,792 shares of the company’s stock valued at $682,000 after acquiring an additional 208 shares during the period. Townsquare Capital LLC boosted its holdings in argenx by 29.2% during the 4th quarter. Townsquare Capital LLC now owns 4,448 shares of the company’s stock valued at $1,692,000 after acquiring an additional 1,006 shares during the period. Finally, Legal & General Group Plc raised its position in argenx by 21.6% during the 4th quarter. Legal & General Group Plc now owns 78,302 shares of the company’s stock valued at $29,767,000 after purchasing an additional 13,920 shares in the last quarter. Hedge funds and other institutional investors own 60.32% of the company’s stock.

About argenx

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.