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On Thursday, TD Cowen reiterated its Buy rating on argenx SE (NASDAQ:ARGX) with a consistent price target of $761.00. The firm’s endorsement of the biotechnology company, currently valued at $35.12 billion, is rooted in a positive forecast for the company’s growth and profitability by 2025, driven by the successful international launch of Vyvgart for treating generalized myasthenia gravis (gMG) and chronic inflammatory demyelinating polyneuropathy (CIDP). According to InvestingPro data, the company has demonstrated impressive revenue growth of 77.5% over the last twelve months, supporting the optimistic outlook.
The analyst at TD Cowen expressed confidence in argenx’s potential to reach profitability by 2025, citing the strong global launch of Vyvgart in treating gMG and CIDP as key drivers. With a strong current ratio of 7.29 and minimal debt relative to equity, InvestingPro analysis shows the company is well-positioned financially to support its growth initiatives. The anticipated approval of a new prefilled syringe (PFS) in 2025 is expected to further enhance the drug’s global market presence. Vyvgart’s success is not just limited to gMG and CIDP; it is also projected to show positive results in Phase 3 trials for myositis, thyroid eye disease (TED), and Sjögren’s syndrome, with data expected in 2026 and 2027.
The analyst’s bullish stance extends beyond Vyvgart, with expectations that argenx’s emapalumab (Empa) could become the next profitable product in the pipeline. Emapalumab is anticipated to yield multiple data readouts across several promising indications, including multifocal motor neuropathy (MMN), dermatomyositis (DM), and delayed graft function (DGF) in the 2025 and 2026 timeframe.
The forecast for argenx’s profitability and the strong performance of its product portfolio underline the firm’s positive outlook. TD Cowen’s analysis suggests a robust future for argenx, as the company continues to develop and launch treatments for a range of autoimmune diseases and disorders. With a solid pipeline and potential market expansions on the horizon, argenx appears to be on a path to significant growth in the biotech industry.
In other recent news, argenx SE has been the subject of several analyst updates and projections. TD Cowen increased its price target for argenx to $761, maintaining a Buy rating, following robust Vyvgart sales, which rose 29% quarter-over-quarter to $737 million. The firm anticipates a 78% year-over-year revenue increase in 2024, reaching $2.2 billion. Similarly, Guggenheim raised its price target to $1,100, also with a Buy rating, citing argenx’s ambitious 2030 goals and potential for significant market capitalization growth. H.C. Wainwright adjusted its target to $720, emphasizing the company’s strategic initiatives, including the introduction of patient free services and the upcoming autoinjector format for Vyvgart.
JMP Securities also increased their target to $701, acknowledging the strong performance of the VYVGART franchise and the company’s financial health, with a cash reserve of $3.5 billion. Deutsche Bank (ETR:DBKGn) upgraded argenx’s stock rating from Sell to Hold, setting a price target of EUR575, reflecting a more neutral outlook amid changing market conditions. These recent developments highlight the diverse perspectives among analysts regarding argenx’s growth trajectory and financial strategies.
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