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

argenx (NASDAQ:ARGX) issued its quarterly earnings results on Thursday. The company reported $0.45 earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $489.43 million for the quarter, compared to analysts’ expectations of $436.66 million. During the same period in the prior year, the firm earned ($1.69) earnings per share.

argenx Trading Up 1.7 %

NASDAQ ARGX traded up $8.13 on Friday, reaching $494.46. The company’s stock had a trading volume of 770,065 shares, compared to its average volume of 324,737. The firm has a market cap of $29.39 billion, a PE ratio of -87.36 and a beta of 0.64. The business has a 50-day moving average price of $413.06 and a 200 day moving average price of $394.35. argenx has a 52 week low of $327.73 and a 52 week high of $532.59.

Analyst Upgrades and Downgrades

A number of analysts have commented on ARGX shares. Stifel Nicolaus upped their price target on argenx from $485.00 to $500.00 and gave the stock a “buy” rating in a research report on Monday, June 24th. William Blair reissued a “market perform” rating on shares of argenx in a research report on Monday, June 17th. HC Wainwright upped their target price on argenx from $504.00 to $533.00 and gave the company a “buy” rating in a research report on Friday. Morgan Stanley lowered their target price on argenx from $515.00 to $510.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 28th. Finally, Evercore ISI raised their target price on argenx from $478.00 to $533.00 and gave the company an “outperform” rating in a research report on Friday, July 12th. Three research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, argenx currently has an average rating of “Moderate Buy” and a consensus price target of $539.05.

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.