Jefferies analyst Akash Tewari has maintained their bullish stance on ARGX stock, giving a Buy rating today.
Akash Tewari has given his Buy rating due to a variety of reasons related to Argenx Se’s financial situation and drug development progress. He acknowledges the miss on the primary and secondary endpoints in the ITP indication for Vyvgart Hytrulo, but doesn’t see it as a significant concern for the subcutaneous (SC) administration method, as non-inferiority has been previously established in gMG and efficacy seen in CIDP. Additionally, Tewari believes the miss in ITP does not necessarily predict outcomes in other diseases like PV, given the differences in disease mechanisms and trial designs.
Tewari maintains confidence in the potential of Vyvgart and the broader FcRn class, estimating a $10bn+ opportunity over time. Despite the reduction in the price target from $628 to $600, he sees the current valuation of ARGX as incorporating only marginal upside for additional indications, of which there are 15 planned for testing. The analyst also underscores the high expectations for upcoming readouts in PV ph3 and BP, which are considered more critical to the Vyvgart story and could significantly impact sentiment if successful. Therefore, despite the recent negative data, Tewari’s outlook on Argenx Se remains positive, leading to a Buy rating.
According to TipRanks, Tewari is a 5-star analyst with an average return of 16.3% and a 48.87% success rate. Tewari covers the Healthcare sector, focusing on stocks such as Eli Lilly & Co, Argenx Se, and Merck & Company.
In another report released today, Robert W. Baird also maintained a Buy rating on the stock with a $505.00 price target.
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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 selloff on failed study a buying opportunity, says Wells Fargo
- Argenx announces ADVANCE-SC study did mot meet primary, secondary endpoints
- 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
