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TD Cowen has reiterated its Buy rating and $761.00 price target on argenx SE (NASDAQ:ARGX), currently trading at $579.74, following promising clinical trial results for the company’s VYVGART therapy in myositis and Sjogren’s disease. The $35.3 billion market cap company maintains strong financials, earning a "GREAT" overall score on InvestingPro’s health assessment.
The Phase 2/3 ALKIVIA trial for VYVGART in myositis demonstrated statistically significant mean Total (EPA:TTEF) Improvement Score (TIS) at week 24, meeting its primary endpoint along with key secondary endpoints, according to TD Cowen.
The Phase 2 RHO trial also met its primary endpoint in Sjogren’s disease, with TD Cowen describing the overall results as a "best case scenario" that validates the biological mechanism of the therapy.
Argenx will present the Phase 2 data for VYVGART in both conditions at the upcoming European Alliance of Associations for Rheumatology (EULAR) conference, along with the Phase 2 EMPACIFIC trial design for empa in dermatomyositis.
TD Cowen noted that these positive results support their investment thesis and indicate "multibillion $ upside" potential for the therapy across these indications.
In other recent news, argenx SE has reported noteworthy developments in its financial and strategic trajectory. The company recently posted its first-quarter earnings for 2025, which exceeded expectations from both JMP Securities and consensus estimates, highlighting the ongoing success of its Vyvgart franchise. TD Cowen also noted that Vyvgart’s net sales of $790 million surpassed both the consensus estimate of $784 million and their own projection of $775 million, despite facing increased gross-to-net discounts due to Medicare Part D redesign.
In terms of analyst ratings, H.C. Wainwright maintained a Buy rating with a $720 price target, reflecting confidence in argenx’s drug development strategies, while TD Cowen reaffirmed its Buy rating with a $761 price target, emphasizing the company’s strong sales growth. Baird upgraded argenx’s stock rating from Neutral to Outperform, maintaining a price target of $680, based on long-term growth potential for Vyvgart despite recent Medicare-related pricing concerns.
Meanwhile, JMP Securities adjusted its price target slightly down to $699 but maintained an Outperform rating, citing the anticipated demand increase from the new pre-filled syringe version of Vyvgart. Deutsche Bank (ETR:DBKGn), however, reduced its price target to EUR525, maintaining a Hold rating due to mixed first-quarter performance and questions about sustaining commercial momentum. These recent developments reflect a varied but generally positive outlook among analysts for argenx’s future performance.
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