HC Wainwright Has Strong Estimate for argenx FY2024 Earnings

argenx SE (NASDAQ:ARGX) – Investment analysts at HC Wainwright raised their FY2024 earnings per share (EPS) estimates for shares of argenx in a research note issued to investors on Tuesday, January 14th. HC Wainwright analyst D. Tsao now expects that the company will post earnings per share of $2.30 for the year, up from their prior estimate of $0.78. HC Wainwright currently has a “Buy” rating and a $717.00 price target on the stock. The consensus estimate for argenx’s current full-year earnings is $2.17 per share. HC Wainwright also issued estimates for argenx’s Q4 2024 earnings at $1.49 EPS, Q1 2025 earnings at $1.23 EPS, Q2 2025 earnings at $1.69 EPS, Q3 2025 earnings at $1.65 EPS, Q4 2025 earnings at $1.80 EPS, FY2025 earnings at $6.36 EPS, FY2026 earnings at $18.58 EPS, FY2027 earnings at $31.03 EPS, FY2028 earnings at $43.49 EPS and FY2029 earnings at $58.70 EPS.

argenx (NASDAQ:ARGX) last posted its quarterly earnings data on Thursday, October 31st. The company reported $1.39 earnings per share for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $588.88 million during the quarter, compared to analysts’ expectations of $543.29 million. During the same quarter last year, the company posted ($1.25) EPS.

ARGX has been the subject of a number of other research reports. Wells Fargo & Company boosted their target price on shares of argenx from $639.00 to $723.00 and gave the stock an “overweight” rating in a research note on Thursday, December 19th. Deutsche Bank Aktiengesellschaft cut argenx from a “buy” rating to a “hold” rating in a research note on Friday, October 4th. JPMorgan Chase & Co. raised their target price on shares of argenx from $640.00 to $670.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th. Baird R W downgraded shares of argenx from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 1st. Finally, Wedbush restated an “outperform” rating and issued a $655.00 price objective on shares of argenx in a research note on Tuesday, December 3rd. Three equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $658.39.

argenx Stock Performance

ARGX stock opened at $659.81 on Friday. The company’s 50 day moving average price is $619.30 and its 200 day moving average price is $554.23. The firm has a market capitalization of $39.83 billion, a price-to-earnings ratio of -749.78 and a beta of 0.59. argenx has a fifty-two week low of $349.86 and a fifty-two week high of $678.21.

Institutional Investors Weigh In On argenx

Institutional investors and hedge funds have recently bought and sold shares of the business. Point72 Hong Kong Ltd bought a new stake in argenx in the 2nd quarter valued at about $76,000. Cromwell Holdings LLC raised its holdings in shares of argenx by 73.3% during the third quarter. Cromwell Holdings LLC now owns 156 shares of the company’s stock valued at $85,000 after buying an additional 66 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of argenx by 47.5% during the third quarter. GAMMA Investing LLC now owns 174 shares of the company’s stock worth $94,000 after buying an additional 56 shares during the period. Blue Trust Inc. grew its holdings in argenx by 413.9% in the 3rd quarter. Blue Trust Inc. now owns 370 shares of the company’s stock worth $201,000 after buying an additional 298 shares in the last quarter. Finally, Keudell Morrison Wealth Management acquired a new stake in argenx in the 3rd quarter valued at approximately $207,000. Institutional investors and hedge funds 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, 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.