HC Wainwright Has Strong Forecast for argenx FY2024 Earnings

argenx SE (NASDAQ:ARGX) – Investment analysts at HC Wainwright increased their FY2024 EPS estimates for shares of argenx in a report released on Tuesday, January 14th. HC Wainwright analyst D. Tsao now forecasts that the company will post earnings of $2.30 per share for the year, up from their prior estimate of $0.78. HC Wainwright has a “Buy” rating and a $717.00 price objective 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.

Several other equities research analysts also recently issued reports on ARGX. JPMorgan Chase & Co. upped their price target on argenx from $640.00 to $670.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. Piper Sandler upped their target price on shares of argenx from $620.00 to $725.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 7th. JMP Securities raised their price target on shares of argenx from $606.00 to $696.00 and gave the company a “market outperform” rating in a research report on Tuesday, January 14th. Raymond James reaffirmed a “strong-buy” rating and issued a $605.00 price objective on shares of argenx in a research report on Thursday, October 10th. Finally, Wells Fargo & Company lifted their target price on shares of argenx from $639.00 to $723.00 and gave the stock an “overweight” rating in a research report on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $658.39.

argenx Stock Performance

Shares of ARGX opened at $640.52 on Friday. The firm has a market capitalization of $38.67 billion, a P/E ratio of -727.86 and a beta of 0.59. argenx has a 52 week low of $349.86 and a 52 week high of $678.21. The stock has a 50 day moving average price of $620.19 and a two-hundred day moving average price of $556.51.

argenx (NASDAQ:ARGX) last posted its earnings results 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. The company 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 quarter in the prior year, the business posted ($1.25) EPS.

Institutional Trading of argenx

A number of institutional investors have recently modified their holdings of the business. Point72 Hong Kong Ltd bought a new stake in argenx during the 2nd quarter valued at $76,000. Cromwell Holdings LLC raised its stake in shares of argenx by 73.3% during the 3rd 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 period. GAMMA Investing LLC raised its stake in shares of argenx by 47.5% during the 3rd quarter. GAMMA Investing LLC now owns 174 shares of the company’s stock valued at $94,000 after purchasing an additional 56 shares during the period. Blue Trust Inc. lifted its holdings in argenx by 413.9% during the 3rd quarter. Blue Trust Inc. now owns 370 shares of the company’s stock worth $201,000 after purchasing an additional 298 shares in the last quarter. Finally, Keudell Morrison Wealth Management bought a new position in argenx in the 3rd quarter worth about $207,000. 60.32% of the stock is currently owned by hedge funds and other institutional investors.

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.