argenx (NASDAQ:ARGX) Issues Earnings Results, Beats Expectations By $1.29 EPS

argenx (NASDAQ:ARGX) released its quarterly earnings data on Thursday. The company reported $1.39 EPS for the quarter, topping the consensus estimate of $0.10 by $1.29, Zacks reports. argenx had a negative net margin of 12.31% and a negative return on equity of 7.33%. The company had revenue of $588.88 million during the quarter, compared to the consensus estimate of $543.29 million. During the same period last year, the firm earned ($1.25) EPS.

argenx Stock Up 3.4 %

Shares of ARGX traded up $19.87 during trading on Friday, reaching $606.17. 205,783 shares of the company traded hands, compared to its average volume of 308,032. The stock has a market cap of $36.25 billion, a PE ratio of -670.59 and a beta of 0.63. argenx has a twelve month low of $327.73 and a twelve month high of $606.52. The stock has a 50-day simple moving average of $536.55 and a 200-day simple moving average of $463.44.

Analysts Set New Price Targets

ARGX has been the subject of several research reports. HC Wainwright upped their target price on argenx from $533.00 to $617.00 and gave the stock a “buy” rating in a research note on Friday. Oppenheimer raised their target price on argenx from $560.00 to $646.00 and gave the stock an “outperform” rating in a research note on Friday. Truist Financial lifted their target price on shares of argenx from $540.00 to $660.00 and gave the company a “buy” rating in a research note on Thursday. William Blair upgraded argenx from a “market perform” rating to an “outperform” rating in a report on Friday. Finally, JPMorgan Chase & Co. upped their price target on argenx from $500.00 to $640.00 and gave the stock an “overweight” rating in a research note on Friday, August 23rd. Four research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $587.22.

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.