argenx (NASDAQ:ARGX) Issues Earnings Results, Beats Estimates By $1.34 EPS

argenx (NASDAQ:ARGX) issued its earnings results on Thursday. The company reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.89) by $1.34, Zacks reports. argenx had a negative return on equity of 14.14% and a negative net margin of 22.58%. The firm had revenue of $489.43 million for the quarter, compared to analysts’ expectations of $436.66 million. During the same quarter last year, the firm earned ($1.69) earnings per share.

argenx Stock Up 1.7 %

ARGX traded up $8.13 during trading on Friday, reaching $494.46. The stock had a trading volume of 770,065 shares, compared to its average volume of 324,737. The firm has a market capitalization of $29.39 billion, a price-to-earnings ratio of -87.36 and a beta of 0.64. argenx has a 1-year low of $327.73 and a 1-year high of $532.59. The stock has a 50 day moving average of $413.06 and a two-hundred day moving average of $394.35.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on ARGX. Wedbush boosted their price objective on argenx from $519.00 to $560.00 and gave the stock an “outperform” rating in a research note on Friday. Oppenheimer upgraded argenx from a “market perform” rating to an “outperform” rating and set a $546.00 price objective on the stock in a research note on Tuesday. HC Wainwright boosted their price objective on argenx from $504.00 to $533.00 and gave the stock a “buy” rating in a research note on Friday. JPMorgan Chase & Co. dropped their target price on argenx from $560.00 to $500.00 and set an “overweight” rating on the stock in a research report on Monday, May 13th. Finally, Wells Fargo & Company lifted their target price on argenx from $543.00 to $547.00 and gave the stock an “overweight” rating in a research report on Friday. Three research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $539.05.

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.