Zacks: Brokerages Expect argenx SE – (NASDAQ:ARGX) Will Announce Quarterly Sales of $16.30 Million

Wall Street brokerages predict that argenx SE – (NASDAQ:ARGX) will announce $16.30 million in sales for the current quarter, Zacks Investment Research reports. Five analysts have issued estimates for argenx’s earnings. The highest sales estimate is $25.99 million and the lowest is $8.96 million. The firm is scheduled to report its next earnings report before the market opens on Thursday, August 1st.

According to Zacks, analysts expect that argenx will report full-year sales of $83.98 million for the current fiscal year, with estimates ranging from $59.98 million to $108.98 million. For the next year, analysts anticipate that the firm will report sales of $67.69 million, with estimates ranging from $28.01 million to $128.80 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that follow argenx.

Several research firms have weighed in on ARGX. Stifel Nicolaus reiterated a “buy” rating and set a $154.00 price objective on shares of argenx in a research report on Thursday, August 1st. Morgan Stanley boosted their target price on shares of argenx from $143.00 to $173.00 and gave the company an “overweight” rating in a research report on Tuesday, August 6th. Zacks Investment Research raised shares of argenx from a “sell” rating to a “hold” rating in a research report on Monday. Robert W. Baird began coverage on shares of argenx in a research note on Thursday, June 27th. They issued an “outperform” rating and a $170.00 price target on the stock. Finally, ValuEngine lowered shares of argenx from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Two analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $155.27.

A number of hedge funds and other institutional investors have recently made changes to their positions in ARGX. FDx Advisors Inc. grew its holdings in shares of argenx by 5.8% during the 2nd quarter. FDx Advisors Inc. now owns 2,046 shares of the company’s stock worth $290,000 after purchasing an additional 113 shares in the last quarter. TimesSquare Capital Management LLC grew its stake in argenx by 0.5% during the second quarter. TimesSquare Capital Management LLC now owns 123,755 shares of the company’s stock worth $17,521,000 after buying an additional 600 shares in the last quarter. Royal Bank of Canada increased its holdings in argenx by 44.5% in the 2nd quarter. Royal Bank of Canada now owns 3,009 shares of the company’s stock valued at $426,000 after buying an additional 926 shares during the period. Marshall Wace LLP bought a new position in argenx in the 1st quarter valued at about $121,000. Finally, Wells Fargo & Company MN raised its position in shares of argenx by 84.4% in the 2nd quarter. Wells Fargo & Company MN now owns 2,296 shares of the company’s stock valued at $325,000 after buying an additional 1,051 shares in the last quarter. 69.54% of the stock is owned by hedge funds and other institutional investors.

ARGX traded up $1.18 during trading on Friday, hitting $124.07. The stock had a trading volume of 393,658 shares, compared to its average volume of 167,232. The company has a debt-to-equity ratio of 0.01, a current ratio of 9.37 and a quick ratio of 14.29. The company has a 50 day moving average price of $136.96 and a 200-day moving average price of $131.55. argenx has a one year low of $63.81 and a one year high of $150.92. The firm has a market cap of $3.92 billion, a price-to-earnings ratio of -52.35 and a beta of 1.25.

argenx Company Profile

argenx SE, a clinical-stage biopharmaceutical company, focuses on developing antibody-based therapies for the treatment of autoimmune diseases and cancer. The company's lead product candidates include ARGX-113 that completed Phase 2 clinical trials for the treatment of autoimmune diseases, including myasthenia gravis, immune thrombocytopenia, and pemphigus vulgaris; and ARGX-110, which is in Phase 1/2 clinical trials for the treatment of T-cell lymphoma, acute myeloid leukemia, and myelodysplastic syndrome.

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