Leerink Partnrs Has Positive View of argenx FY2028 Earnings

argenx SE (NASDAQ:ARGX - Free Report) - Stock analysts at Leerink Partnrs raised their FY2028 earnings estimates for shares of argenx in a note issued to investors on Wednesday, February 5th. Leerink Partnrs analyst T. Smith now anticipates that the company will post earnings per share of $34.69 for the year, up from their previous forecast of $34.23. The consensus estimate for argenx's current full-year earnings is $3.13 per share. Leerink Partnrs also issued estimates for argenx's FY2029 earnings at $41.83 EPS.

A number of other equities analysts have also issued reports on ARGX. Wells Fargo & Company raised their target price on shares of argenx from $639.00 to $723.00 and gave the stock an "overweight" rating in a research report on Thursday, December 19th. William Blair raised shares of argenx from a "market perform" rating to an "outperform" rating in a report on Friday, November 1st. Evercore ISI raised their price target on argenx from $675.00 to $706.00 and gave the stock an "outperform" rating in a report on Thursday, November 21st. Robert W. Baird downgraded argenx from an "outperform" rating to a "neutral" rating and upped their price objective for the company from $515.00 to $650.00 in a research note on Friday, November 1st. Finally, 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. One analyst has rated the stock with a sell rating, two have assigned a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, argenx has a consensus rating of "Moderate Buy" and an average target price of $658.39.

argenx Price Performance

Shares of ARGX traded down $0.19 during midday trading on Thursday, reaching $646.45. 197,707 shares of the stock were exchanged, compared to its average volume of 272,324. argenx has a twelve month low of $349.86 and a twelve month high of $678.21. The company has a market capitalization of $39.28 billion, a price-to-earnings ratio of -734.60 and a beta of 0.58. The business's 50-day moving average price is $637.11 and its 200 day moving average price is $577.73.

Hedge Funds Weigh In On argenx

Several hedge funds and other institutional investors have recently bought and sold shares of the company. FMR LLC increased its position 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 buying an additional 1,265,486 shares in the last quarter. Lord Abbett & CO. LLC purchased a new stake in argenx during the third quarter valued at about $88,339,000. Allspring Global Investments Holdings LLC raised its holdings in argenx by 38,152.3% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 144,211 shares of the company's stock valued at $89,391,000 after buying an additional 143,834 shares during the period. Perpetual Ltd acquired a new position in shares of argenx during the 3rd quarter valued at $76,314,000. Finally, Raymond James Financial Inc. acquired a new position in shares of argenx during the fourth quarter worth about $43,543,000. 60.32% of the stock is owned by institutional investors and hedge funds.

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.