$6.35 Million in Sales Expected for argenx SE – (ARGX) This Quarter

Equities research analysts predict that argenx SE – (NASDAQ:ARGX) will announce sales of $6.35 million for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for argenx’s earnings. The lowest sales estimate is $2.80 million and the highest is $9.28 million. The firm is expected to report its next earnings results before the market opens on Thursday, August 2nd.

On average, analysts expect that argenx will report full year sales of $27.13 million for the current fiscal year, with estimates ranging from $16.58 million to $36.31 million. For the next year, analysts anticipate that the company will report sales of $24.68 million per share, with estimates ranging from $12.23 million to $37.12 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for argenx.

Several research firms have weighed in on ARGX. SunTrust Banks began coverage on argenx in a research report on Sunday, April 8th. They set a “buy” rating and a $125.00 price objective on the stock. Wedbush lifted their price objective on argenx from $93.00 to $114.00 and gave the company an “outperform” rating in a research report on Monday, June 25th. ValuEngine raised argenx from a “sell” rating to a “hold” rating in a research report on Wednesday, May 2nd. Piper Jaffray Companies reaffirmed an “overweight” rating and set a $130.00 price objective on shares of argenx in a research report on Thursday, June 7th. Finally, JMP Securities lifted their target price on shares of argenx from $93.00 to $130.00 and gave the company a “positive” rating in a report on Monday, June 18th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $122.83.

Several hedge funds have recently added to or reduced their stakes in ARGX. Atria Investments LLC purchased a new position in shares of argenx during the second quarter valued at approximately $213,000. Fred Alger Management Inc. lifted its holdings in shares of argenx by 50.0% during the second quarter. Fred Alger Management Inc. now owns 3,000 shares of the company’s stock valued at $249,000 after purchasing an additional 1,000 shares during the last quarter. Aperio Group LLC purchased a new position in shares of argenx during the first quarter valued at approximately $268,000. Dimensional Fund Advisors LP purchased a new position in shares of argenx during the first quarter valued at approximately $498,000. Finally, US Bancorp DE purchased a new position in shares of argenx during the first quarter valued at approximately $598,000. Hedge funds and other institutional investors own 53.14% of the company’s stock.

argenx traded down $0.20, hitting $91.93, during trading hours on Friday, Marketbeat Ratings reports. 72,300 shares of the stock traded hands, compared to its average volume of 145,418. The stock has a market cap of $2.92 billion, a price-to-earnings ratio of -65.66 and a beta of 2.44. argenx has a one year low of $19.81 and a one year high of $103.00.

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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