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Investing.com - BofA Securities raised its price target on argenx SE (NASDAQ:ARGX), a $41.7 billion market cap biotech company with "GREAT" financial health according to InvestingPro, to $880.00 from $829.00 on Thursday, while maintaining a Buy rating following the company’s second-quarter results.
Argenx reported second-quarter Vyvgart revenues of $949 million, representing 20% quarter-over-quarter growth and exceeding both BofA’s estimate of $885 million and consensus expectations of $863 million. This performance aligns with the company’s impressive 82% year-over-year revenue growth rate.
The company experienced strong global demand growth that more than offset an approximately 8% increase in gross-to-net adjustments during the first half of 2025, according to BofA Securities.
Argenx saw significant tailwinds following the April launch of its pre-filled syringe option, which allows for convenient at-home dosing. This resulted in a record number of new patient starts in the second quarter and expanded the company’s reach to approximately 150 new Vyvgart prescribers.
BofA Securities noted that Vyvgart is approaching $1 billion in global quarterly sales with further growth potential through indication expansion, and the firm continues to highlight argenx as a top pick for 2025. The company maintains a healthy balance sheet with minimal debt and strong profitability metrics.
In other recent news, argenx SE reported first-quarter revenues of $790 million for its drug Vyvgart, marking a 7% increase from the previous quarter. BofA Securities has raised its price target for argenx to $829, projecting second-quarter Vyvgart revenues to reach $885 million, which would represent a 12% quarter-over-quarter growth. Meanwhile, Morgan Stanley (NYSE:MS) has assumed coverage on argenx with an Overweight rating and a price target of $700, focusing on the launch of Vyvgart Hytrulo for treating chronic inflammatory demyelinating polyneuropathy (CIDP). This comes as the FDA evaluates a potential serious risk associated with Vyvgart Hytrulo, specifically a severe worsening of CIDP, and is considering whether regulatory action is necessary. Despite this, H.C. Wainwright reiterated its Buy rating with a $720 price target following the advancement of argenx’s ARGX-119 to late-stage clinical development. This marks the third molecule from the company to reach this milestone. The developments around Vyvgart and its new formulation, Vyvgart Hytrulo, are pivotal as they impact both revenue forecasts and regulatory scrutiny.
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