argenex (NASDAQ:ARGX) Releases Quarterly Earnings Results

argenex (NASDAQ:ARGX) released its earnings results on Thursday. The company reported $7.32 EPS for the quarter, beating analysts’ consensus estimates of $5.86 by $1.46, Zacks reports. argenex had a return on equity of 44.37% and a net margin of 31.31%.The firm had revenue of $1.54 billion for the quarter, compared to analysts’ expectations of $1.45 billion.

Here are the key takeaways from argenex’s conference call:

• argenx reported 18 consecutive quarters of growth, with second-quarter product net sales of $1.5 billion, up 60% year over year and 17% sequentially. Management said the growth was driven by continued patient expansion across MG and CIDP and strong U.S. performance.
• VYVGART continues to expand its reach in generalized myasthenia gravis, including the recent seronegative gMG approval, which makes it the first and only approved biologic across all gMG serotypes. Management highlighted quick payer uptake, removal of serology testing requirements by many plans, and a meaningful halo effect on broader prescribing.
• The company said its CIDP launch is still early but remains on a strong trajectory, supported by the prefilled syringe and data showing benefit in earlier-line and treatment-naive patients. Management also pointed to evidence such as successful switching from IVIG and increasing use in patients seeking greater functional improvement.
• argenx expects two registrational readouts before year-end, led by myositis for VYVGART’s expansion into rheumatology and MMN for empasiprubart. The company said both programs could support additional label growth, but the specific filing path will depend on the upcoming data.
• The company’s pipeline and balance sheet remain a major part of its long-term story, with $5.2 billion in cash and plans to advance multiple late-stage assets, including next-generation FcRn programs and ARGX-121 for IgA nephropathy. Management also reiterated openness to disciplined business development around novel biology and high unmet need.

argenex Trading Up 4.1%

Shares of argenex stock opened at $887.02 on Thursday. The firm has a market cap of $55.49 billion, a P/E ratio of 39.10, a P/E/G ratio of 1.08 and a beta of 0.45. argenex has a 12 month low of $577.04 and a 12 month high of $953.58. The stock’s fifty day moving average price is $863.85 and its 200-day moving average price is $813.80.

Analysts Set New Price Targets

A number of brokerages recently issued reports on ARGX. Weiss Ratings upgraded argenex from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, July 6th. HC Wainwright reiterated a “buy” rating and issued a $940.00 target price on shares of argenex in a research note on Thursday, June 25th. Guggenheim lifted their target price on argenex from $1,120.00 to $1,135.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. Citigroup boosted their target price on shares of argenex from $1,152.00 to $1,182.00 and gave the company a “buy” rating in a research note on Tuesday. Finally, Wedbush restated an “outperform” rating and issued a $1,000.00 price target on shares of argenex in a report on Thursday, June 11th. Two analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,042.67.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ARGX. AQR Capital Management LLC lifted its position in shares of argenex by 32.1% in the 1st quarter. AQR Capital Management LLC now owns 502 shares of the company’s stock worth $297,000 after purchasing an additional 122 shares during the period. NewEdge Advisors LLC boosted its stake in shares of argenex by 5,962.5% during the first quarter. NewEdge Advisors LLC now owns 1,455 shares of the company’s stock valued at $862,000 after purchasing an additional 1,431 shares in the last quarter. Focus Partners Wealth raised its stake in argenex by 22.3% in the first quarter. Focus Partners Wealth now owns 400 shares of the company’s stock worth $237,000 after buying an additional 73 shares in the last quarter. Geneos Wealth Management Inc. lifted its holdings in argenex by 550.0% during the first quarter. Geneos Wealth Management Inc. now owns 117 shares of the company’s stock worth $69,000 after buying an additional 99 shares during the period. Finally, Northwestern Mutual Wealth Management Co. boosted its position in argenex by 60.2% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 133 shares of the company’s stock valued at $73,000 after acquiring an additional 50 shares in the last quarter. 60.32% of the stock is currently owned by institutional investors.

About argenex

argenx (NASDAQ: ARGX) is a biotechnology company focused on the discovery, development and commercialization of antibody-based therapeutics for severe autoimmune and neuromuscular diseases. The company uses its proprietary SIMPLE Antibody platform to generate differentiated antibodies and engineered Fc regions, and it pursues mechanisms that modulate the neonatal Fc receptor (FcRn) to reduce pathogenic IgG levels. Argenx’s research and development activities span target identification, preclinical development and late-stage clinical programs aimed at addressing unmet needs in immunology.

The company’s lead product, efgartigimod (marketed as Vyvgart), is an FcRn antagonist developed to reduce circulating IgG antibodies and treat IgG-mediated disorders.