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Investing.com - Truist Securities has assumed coverage on argenx SE (NASDAQ:ARGX) with a Buy rating and a price target of $918.00, representing a significant increase from the previous target of $700. The stock, currently trading at $756.38, shows strong momentum, trading near its 52-week high of $779.03. According to InvestingPro analysis, the company maintains a "GREAT" financial health score of 3.65.
The research firm views argenx as "one of the most compelling investment opportunities in the biotech sector" based on several growth factors related to its current product portfolio and pipeline.
Truist cites strong revenue growth outlook for the company’s Vyvgart franchise in generalized myasthenia gravis (gMG) and chronic inflammatory demyelinating polyneuropathy (CIDP) as a key driver for the positive rating.
The firm also highlights several additional growth levers for Vyvgart, with potential value inflection expected from the two most advanced programs next year, according to the research note issued Monday.
Truist further points to diversification and growth potential from empasiprubart, with Phase 3 data approaching next year, as well as a "notable relative valuation gap" versus the company’s peers as supporting factors for its bullish stance.
In other recent news, argenx SE has reported significant developments concerning its drug Vyvgart. The company announced positive results from the Phase 3 ADAPT SERON trial, which demonstrated clinical improvement in seronegative generalized myasthenia gravis (gMG) patients. This success has led to several analyst firms reiterating their positive outlook on the company. BofA Securities reaffirmed its Buy rating with a price target of $887, citing Vyvgart’s strong performance in both generalized myasthenia gravis and chronic inflammatory demyelinating polyneuropathy. Piper Sandler raised its price target to $820, maintaining an Overweight rating after Vyvgart met its primary endpoint in the trial. JPMorgan also reiterated its Overweight rating and set a price target of EUR730, highlighting the positive trial results. Meanwhile, Oppenheimer and RBC Capital both reiterated Outperform ratings, with price targets of $778 and $850, respectively, underscoring Vyvgart’s meaningful benefits across various patient subtypes. These developments reflect the growing confidence in Vyvgart’s potential within the medical community.
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