Leerink Partnrs Increases Earnings Estimates for argenx

argenx SE (NASDAQ:ARGX - Free Report) - Leerink Partnrs upped their FY2024 earnings per share (EPS) estimates for shares of argenx in a research note issued to investors on Wednesday, February 5th. Leerink Partnrs analyst T. Smith now forecasts that the company will earn $4.36 per share for the year, up from their prior forecast of $2.90. The consensus estimate for argenx's current full-year earnings is $3.13 per share. Leerink Partnrs also issued estimates for argenx's Q4 2024 earnings at $3.33 EPS, FY2025 earnings at $12.40 EPS, FY2026 earnings at $20.91 EPS and FY2027 earnings at $27.22 EPS.

Other analysts also recently issued research reports about the stock. Wolfe Research upgraded shares of argenx from a "peer perform" rating to an "outperform" rating and set a $697.00 price target for the company in a research report on Tuesday, November 12th. Oppenheimer reiterated an "outperform" rating and issued a $675.00 price objective (up previously from $646.00) on shares of argenx in a research note on Thursday, November 21st. Piper Sandler raised their price target on argenx from $620.00 to $725.00 and gave the company an "overweight" rating in a research report on Tuesday, January 7th. Evercore ISI boosted their target price on shares of argenx from $675.00 to $706.00 and gave the company an "outperform" rating in a research note on Thursday, November 21st. Finally, Guggenheim boosted their target price on shares of argenx from $585.00 to $665.00 and gave the company a "buy" rating in a report on Friday, November 1st. One investment analyst has rated the stock with a sell rating, two have given a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $658.39.

argenx Stock Performance

NASDAQ ARGX traded down $1.65 on Friday, reaching $644.99. The stock had a trading volume of 136,838 shares, compared to its average volume of 271,758. The stock has a market cap of $39.19 billion, a P/E ratio of -732.19 and a beta of 0.58. argenx has a 12-month low of $349.86 and a 12-month high of $678.21. The business's 50-day moving average price is $637.11 and its 200 day moving average price is $577.73.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. FMR LLC lifted its stake in argenx by 35.9% during the third quarter. FMR LLC now owns 4,793,472 shares of the company's stock worth $2,598,445,000 after purchasing an additional 1,265,486 shares during the last quarter. Janus Henderson Group PLC raised its holdings in shares of argenx by 0.4% during the third quarter. Janus Henderson Group PLC now owns 2,479,207 shares of the company's stock worth $1,343,797,000 after purchasing an additional 10,975 shares during the period. Wellington Management Group LLP lifted its position in shares of argenx by 13.0% in the 3rd quarter. Wellington Management Group LLP now owns 482,346 shares of the company's stock worth $261,470,000 after buying an additional 55,617 shares during the last quarter. Alkeon Capital Management LLC boosted its holdings in shares of argenx by 15.0% in the 3rd quarter. Alkeon Capital Management LLC now owns 345,000 shares of the company's stock valued at $187,018,000 after buying an additional 45,000 shares during the period. Finally, Jennison Associates LLC grew its position in shares of argenx by 27.0% during the 4th quarter. Jennison Associates LLC now owns 302,149 shares of the company's stock valued at $185,821,000 after buying an additional 64,183 shares during the last quarter. Institutional investors and hedge funds own 60.32% of the company's stock.

About argenx

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.