argenx (NASDAQ:ARGX) Issues Earnings Results

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

argenx Stock Up 4.0 %

NASDAQ ARGX traded up $23.60 on Friday, reaching $609.90. The company had a trading volume of 234,162 shares, compared to its average volume of 308,166. The stock has a market capitalization of $36.47 billion, a P/E ratio of -670.59 and a beta of 0.63. The company’s fifty day moving average is $536.55 and its 200 day moving average is $463.44. argenx has a 52-week low of $327.73 and a 52-week high of $610.73.

Analyst Ratings Changes

ARGX has been the subject of a number of recent research reports. William Blair raised shares of argenx from a “market perform” rating to an “outperform” rating in a research report on Friday. Truist Financial upped their price objective on shares of argenx from $540.00 to $660.00 and gave the stock a “buy” rating in a research report on Thursday. Wells Fargo & Company upped their price objective on shares of argenx from $543.00 to $547.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Citigroup upped their price objective on shares of argenx from $512.00 to $635.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Finally, Robert W. Baird cut shares of argenx from an “outperform” rating to a “neutral” rating and upped their price objective for the stock from $515.00 to $650.00 in a research report on Friday. Four 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’s stock. According to MarketBeat.com, the stock currently has an average 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.