Street Calls of the Week
Investing.com - Oppenheimer has reiterated an Outperform rating and $778.00 price target on argenx SE (NASDAQ:ARGX), a $42.3 billion biotech company with "GREAT" financial health according to InvestingPro metrics, following positive Phase 3 trial results for its IV Vyvgart treatment in seronegative myasthenia gravis (snMG).
The company announced that the trial met its primary endpoint, with IV Vyvgart showing statistical significance (p=0.0068) versus placebo on the MG-ADL measurement scale. This represents a significant advancement for treating snMG, a condition affecting approximately 15-20% of myasthenia gravis patients who lack antibodies to acetylcholine receptors. The company’s strong execution is reflected in its impressive 88% revenue growth over the last twelve months.
According to argenx, the anticipated FDA label expansion next year could make the treatment available to an additional 11,000 U.S. patients, many of whom currently have no other approved treatment options. The company plans to present detailed results from the ADAPT-SERON trial at an upcoming medical meeting.
Oppenheimer noted that these results are expected to drive regulatory submissions for snMG treatment in other geographic regions beyond the United States. The investment firm also expressed increased optimism for a positive Phase 3 readout in ocular myasthenia gravis, anticipated in the first half of 2026, which could address an additional 7,000 U.S. patients.
The research firm continues to view argenx as a "core biotech holding" worth maintaining in investment portfolios. This view aligns with the broader analyst consensus, as revealed by InvestingPro data showing a highly bullish rating of 1.35. Discover 12 additional exclusive ProTips and comprehensive analysis in the Pro Research Report, available with an InvestingPro subscription.
In other recent news, Argenx reported robust earnings for Q2 2025, surpassing market expectations significantly. The company’s earnings per share came in at $6.32, more than double the anticipated $3.06, resulting in a 106.54% surprise. Revenue also exceeded projections, reaching $1.74 billion compared to the expected $876.3 million, marking a 98.56% surprise. Additionally, RBC Capital has reiterated its Outperform rating on Argenx, maintaining a price target of $850.00, following positive clinical trial results for its Vyvgart treatment. Vyvgart demonstrated meaningful benefits across all antibody status subtypes in myasthenia gravis patients, including those who are seronegative. This marks the first Phase III study showing clinically meaningful improvement across all three subtypes of the condition. RBC Capital also initiated coverage on Argenx with an Outperform rating due to the growth potential of Vyvgart. These developments reflect the company’s strong performance and promising outlook.
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