argenx (NASDAQ:ARGX) Issues Quarterly Earnings Results

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

argenx Stock Up 3.4 %

Shares of ARGX stock traded up $19.87 during mid-day trading on Friday, reaching $606.17. 205,783 shares of the stock traded hands, compared to its average volume of 308,032. The stock’s fifty day simple moving average is $536.55 and its two-hundred day simple moving average is $463.44. argenx has a 1-year low of $327.73 and a 1-year high of $606.52. The company has a market cap of $36.25 billion, a price-to-earnings ratio of -670.59 and a beta of 0.63.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. William Blair upgraded shares of argenx from a “market perform” rating to an “outperform” rating in a research note on Friday. Evercore ISI boosted their price target on argenx from $478.00 to $533.00 and gave the company an “outperform” rating in a research note on Friday, July 12th. Piper Sandler upped their target price on argenx from $553.00 to $620.00 and gave the company an “overweight” rating in a research report on Friday. HC Wainwright raised their price target on argenx from $533.00 to $617.00 and gave the stock a “buy” rating in a research report on Friday. Finally, Raymond James reaffirmed a “strong-buy” rating and set a $605.00 price objective on shares of argenx in a research report on Thursday, October 10th. Four investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $587.22.

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.