Wedbush Brokers Increase Earnings Estimates for argenx

argenx SE (NASDAQ:ARGX) – Research analysts at Wedbush raised their Q4 2024 EPS estimates for argenx in a note issued to investors on Monday, January 13th. Wedbush analyst D. Nierengarten now forecasts that the company will post earnings of $2.74 per share for the quarter, up from their prior forecast of $1.09. Wedbush currently has a “Outperform” rating and a $655.00 target price on the stock. The consensus estimate for argenx’s current full-year earnings is $2.20 per share. Wedbush also issued estimates for argenx’s Q1 2025 earnings at $3.11 EPS, Q2 2025 earnings at $4.15 EPS, Q3 2025 earnings at $5.12 EPS, Q4 2025 earnings at $5.95 EPS, FY2025 earnings at $18.37 EPS, FY2026 earnings at $33.33 EPS and FY2027 earnings at $43.65 EPS.

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

Other analysts also recently issued research reports about the stock. Deutsche Bank Aktiengesellschaft downgraded shares of argenx from a “buy” rating to a “hold” rating in a research report on Friday, October 4th. Robert W. Baird lowered shares of argenx from an “outperform” rating to a “neutral” rating and lifted their target price for the company from $515.00 to $650.00 in a report on Friday, November 1st. Evercore ISI increased their price target on argenx from $675.00 to $706.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. Truist Financial restated a “buy” rating and set a $700.00 price objective (up previously from $660.00) on shares of argenx in a research note on Tuesday. Finally, Raymond James reiterated a “strong-buy” rating and set a $605.00 target price on shares of argenx in a report on Thursday, October 10th. Three research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $658.39.

argenx Price Performance

Shares of NASDAQ:ARGX opened at $665.19 on Thursday. The business has a 50-day moving average of $617.93 and a two-hundred day moving average of $553.49. The firm has a market capitalization of $40.16 billion, a PE ratio of -755.90 and a beta of 0.59. argenx has a 12 month low of $349.86 and a 12 month high of $678.21.

Institutional Inflows and Outflows

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