argenx (NASDAQ:ARGX) Announces Earnings Results, Beats Expectations By $0.60 EPS

argenx (NASDAQ:ARGX) issued its quarterly earnings results on Thursday. The company reported $1.58 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.60, Zacks reports. argenx had a negative net margin of 2.11% and a negative return on equity of 1.45%. The company had revenue of $761.22 million for the quarter, compared to the consensus estimate of $678.52 million.

argenx Trading Up 0.2 %

NASDAQ:ARGX traded up $0.95 during trading hours on Friday, hitting $625.65. The company had a trading volume of 83,210 shares, compared to its average volume of 266,313. argenx has a 1 year low of $349.86 and a 1 year high of $678.21. The company has a 50-day moving average of $642.61 and a 200 day moving average of $589.72. The company has a market cap of $38.01 billion, a P/E ratio of -710.07 and a beta of 0.58.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on ARGX. Deutsche Bank Aktiengesellschaft lowered shares of argenx from a “hold” rating to a “sell” rating in a research note on Friday, January 17th. Piper Sandler lifted their price objective on argenx from $620.00 to $725.00 and gave the company an “overweight” rating in a research note on Tuesday, January 7th. Evercore ISI boosted their price objective on argenx from $675.00 to $706.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. Wells Fargo & Company raised their target price on argenx from $639.00 to $723.00 and gave the stock an “overweight” rating in a report on Thursday, December 19th. Finally, JPMorgan Chase & Co. boosted their price target on argenx from $640.00 to $670.00 and gave the company an “overweight” rating in a report on Monday, November 4th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $658.56.

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.