argenx (NASDAQ:ARGX) Issues Earnings Results

argenx (NASDAQ:ARGX) announced its quarterly earnings data on Thursday. The company reported $1.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.98 by $0.60, Zacks reports. argenx had a negative return on equity of 1.45% and a negative net margin of 2.11%.

argenx Stock Performance

Shares of argenx stock traded up $1.68 during midday trading on Thursday, reaching $624.70. 336,053 shares of the company’s stock traded hands, compared to its average volume of 272,743. The company has a market cap of $37.96 billion, a price-to-earnings ratio of -709.89 and a beta of 0.58. The company’s 50 day simple moving average is $642.63 and its 200 day simple moving average is $589.48. argenx has a 52 week low of $349.86 and a 52 week high of $678.21.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on ARGX. Robert W. Baird lowered argenx from an “outperform” rating to a “neutral” rating and boosted their price target for the stock from $515.00 to $650.00 in a research note on Friday, November 1st. HC Wainwright reiterated a “buy” rating and issued a $717.00 price target (up from $670.00) on shares of argenx in a report on Tuesday, January 14th. Baird R W downgraded argenx from a “strong-buy” rating to a “hold” rating in a report on Friday, November 1st. Scotiabank upgraded argenx from a “sector perform” rating to a “sector outperform” rating and upped their price objective for the stock from $439.00 to $715.00 in a report on Tuesday, November 5th. Finally, JMP Securities upped their price target on shares of argenx from $606.00 to $696.00 and gave the stock a “market outperform” rating in a research report on Tuesday, January 14th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $658.39.

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.