Wedbush Comments on argenx SE’s FY2020 Earnings (NASDAQ:ARGX)

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argenx SE (NASDAQ:ARGX) – Stock analysts at Wedbush boosted their FY2020 earnings per share estimates for argenx in a note issued to investors on Monday, January 11th. Wedbush analyst D. Nierengarten now expects that the company will earn ($12.79) per share for the year, up from their previous estimate of ($15.47). Wedbush also issued estimates for argenx’s Q4 2020 earnings at ($2.67) EPS, Q1 2021 earnings at ($5.43) EPS, Q2 2021 earnings at ($3.81) EPS, Q3 2021 earnings at ($3.71) EPS, Q4 2021 earnings at ($4.55) EPS, FY2021 earnings at ($17.49) EPS, FY2022 earnings at ($10.47) EPS, FY2023 earnings at $0.57 EPS and FY2024 earnings at $21.12 EPS.

argenx (NASDAQ:ARGX) last issued its quarterly earnings data on Thursday, October 22nd. The company reported ($3.96) earnings per share for the quarter, missing the consensus estimate of ($2.80) by ($1.16). The company had revenue of $8.97 million for the quarter, compared to analysts’ expectations of $18.08 million.

ARGX has been the subject of a number of other reports. Robert W. Baird lifted their price objective on argenx from $265.00 to $275.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 6th. JMP Securities boosted their price objective on argenx from $271.00 to $307.00 and gave the company an “outperform” rating in a research report on Thursday, January 7th. Piper Sandler upped their price objective on argenx from $258.00 to $300.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 30th. Guggenheim lowered argenx from a “buy” rating to a “neutral” rating in a report on Monday, January 4th. Finally, Bank of America upped their price objective on argenx from $265.00 to $298.00 and gave the company a “buy” rating in a report on Tuesday, October 6th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $263.17.

Shares of argenx stock opened at $274.05 on Wednesday. The company’s fifty day simple moving average is $291.42 and its 200-day simple moving average is $258.64. The company has a market cap of $12.97 billion, a price-to-earnings ratio of -57.94 and a beta of 1.00. argenx has a 1 year low of $103.75 and a 1 year high of $312.06.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Sanders Morris Harris LLC acquired a new stake in argenx in the third quarter valued at approximately $509,000. DekaBank Deutsche Girozentrale acquired a new stake in argenx in the third quarter valued at approximately $1,312,000. Bank of America Corp DE grew its stake in argenx by 24.9% in the second quarter. Bank of America Corp DE now owns 38,278 shares of the company’s stock valued at $8,621,000 after acquiring an additional 7,620 shares during the period. Morgan Stanley grew its stake in argenx by 227.1% in the first quarter. Morgan Stanley now owns 24,188 shares of the company’s stock valued at $3,187,000 after acquiring an additional 16,794 shares during the period. Finally, BlackRock Inc. grew its stake in argenx by 4.5% in the third quarter. BlackRock Inc. now owns 377,747 shares of the company’s stock valued at $99,165,000 after acquiring an additional 16,267 shares during the period. 54.21% of the stock is owned by institutional investors and hedge funds.

argenx Company Profile

argenx SE, a clinical-stage biotechnology company, focuses on developing antibody-based therapies for the treatment of autoimmune diseases, hematology, and cancer. It is developing its lead product candidate, efgartigimod, for the treatment of patients with myasthenia gravis in Phase 3; immune thrombocytopenia in Phase 3; pemphigus vulgaris in Phase 2; chronic inflammatory demyelinating polyneuropathy in Phase 2; and ENHANZE SC in pre-clinical stages.

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