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

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

argenx Stock Down 0.0 %

Shares of NASDAQ:ARGX opened at $624.67 on Friday. The company’s fifty day moving average is $642.61 and its two-hundred day moving average is $589.72. argenx has a 12-month low of $349.86 and a 12-month high of $678.21. The company has a market cap of $37.96 billion, a P/E ratio of -709.85 and a beta of 0.58.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Oppenheimer lifted their price target on argenx from $675.00 to $704.00 and gave the stock an “outperform” rating in a research note on Friday. Wolfe Research upgraded argenx from a “peer perform” rating to an “outperform” rating and set a $697.00 target price for the company in a research note on Tuesday, November 12th. Piper Sandler lifted their target price on argenx from $620.00 to $725.00 and gave the company an “overweight” rating in a research note on Tuesday, January 7th. Guggenheim lifted their target price on argenx from $585.00 to $665.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Finally, William Blair restated an “outperform” rating on shares of argenx in a research note on Friday. One analyst has rated the stock with a sell rating, two have given a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $661.17.

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.