JMP Securities analyst Jason Butler reiterated a Buy rating on Argenx Se (ARGX – Research Report) today and set a price target of $495.00.
Geoff Meacham has given his Buy rating due to a combination of factors involving Argenx’s clinical trial outcomes and anticipated future developments. Despite the disappointing Phase 3 results in immune thrombocytopenia (ITP), Meacham maintains optimism about the company’s other programs. The lack of efficacy in the ADVANCE-SC trial is viewed as an isolated incident, not indicative of the drug’s potential in different indications. The upcoming ADDRESS trial results for the treatment of pemphigus are eagerly awaited, with positive outcomes expected by year-end 2023. The drug’s mechanism of action is believed to be well-suited for these conditions, further bolstering confidence in its prospects.
Additionally, the management’s analysis of the ITP trial outcomes, including the high placebo response and regional variability, does not undermine the overall potential of efgartigimod. Argenx continues to pursue regulatory approval in Japan based on previous trial results and anticipates a decision in the first quarter of 2024. Meacham’s continued support for the stock is rooted in the strong belief that the efficacy of efgartigimod in treating pemphigus vulgaris and foliaceus will be demonstrated in the pending Phase 3 ADDRESS trial, potentially reinforcing the drug’s commercial viability and supporting the Buy rating.
In another report released today, Wells Fargo also maintained a Buy rating on the stock with a $610.00 price target.
See the top stocks recommended by analysts >>
TipRanks tracks over 100,000 company insiders, identifying the select few who excel in timing their transactions. By upgrading to TipRanks Premium, you will gain access to this exclusive data and discover crucial insights to guide your investment decisions. Begin your TipRanks Premium journey today.
Argenx Se (ARGX) Company Description:
argenx SE is a clinical-stage biotechnology company, which engages in the development of antibody-based therapies for the treatment of autoimmune diseases and cancer. Its products include ARGX-113 for the treatment of autoimmune disease myasthenia gravis and ARGX-110 for the treatment of hematological cancer acute myeloid leukemia. The company was founded by Hans J. W. de Haard, Torsten Dreier, and Tim van Hauwermeiren on April 25, 2008 and is headquartered in Breda, the Netherlands.
Read More on ARGX:
- argenx Reports Topline Results from ADVANCE-SC Study of VYVGART Hytrulo in Primary Immune Thrombocytopenia
- argenx Announces European Commission Approval of Subcutaneous VYVGART® (efgartigimod alfa) for Generalized Myasthenia Gravis
- Argenx announces EC approval of subcutaneous VYVGART for gMG
- Immunovant price target raised to $48 from $30 at Truist
- Argenx price target raised to EUR 550 from EUR 540 at Barclays
