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Investing.com - TD Cowen has reiterated its Buy rating and $800.00 price target on argenx SE (NASDAQ:ARGX), currently trading at $812.95 with a market cap of $48.7 billion, citing continued steady uptake of the company’s Vyvgart treatment. According to InvestingPro, the company maintains a "GREAT" financial health score of 3.64, with analysts’ price targets ranging from $559 to $1,075.
The firm’s third-quarter survey shows Vyvgart maintaining strong adoption in both chronic inflammatory demyelinating polyneuropathy (CIDP) and generalized myasthenia gravis (gMG) indications, while competitors from AstraZeneca and UCB show more modest adoption rates in the gMG space. This success is reflected in the company’s impressive 88% year-over-year revenue growth. InvestingPro subscribers can access 12 additional key insights about argenx’s growth potential and market position.
TD Cowen highlighted comments from argenx’s partner Halozyme indicating that Medicare Part B reimbursement for fixed combination products like Vyvgart Hytrulo would not be impacted until 2035, removing a potential reimbursement concern.
Based on recent data and management commentary, TD Cowen projects third-quarter sales to exceed the consensus estimate of $1,060 million, representing a 12% quarter-over-quarter increase.
The firm attributes the expected sales outperformance primarily to increased uptake of the prefilled syringe (PFS) formulation of Vyvgart.
In other recent news, argenx SE has been the focus of several positive analyst actions following its research and development activities. Stifel raised its price target for argenx to $882, maintaining a Buy rating, citing increased confidence in the company’s maturing pipeline, particularly after positive data in seronegative myasthenia gravis. Oppenheimer reaffirmed its Outperform rating, highlighting promising clinical proof of concept data for congenital myasthenic syndromes, which currently lack approved treatments. Truist Securities reiterated its Buy rating with a $918 price target, expressing optimism about the MuSK agonist opportunity following the ARGX-119 R&D event. Additionally, Truist Securities assumed coverage on argenx, describing it as a compelling investment opportunity in the biotech sector. BofA Securities also reaffirmed its Buy rating and set a $887 price target, noting the strong performance of Vyvgart in generalized myasthenia gravis and chronic inflammatory demyelinating polyneuropathy. These developments underscore the positive sentiment among analysts regarding argenx’s prospects.
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