China smartphone shipments slumped in June on inventory overhang: Jefferies
Argenx (NASDAQ:ARGX) NV ADR stock has reached an all-time high, hitting 689.13 USD. According to InvestingPro data, the company maintains a "GREAT" financial health score of 3.37, with analysts setting price targets ranging from $568 to $1,038. This milestone highlights the company’s impressive performance over the past year. The stock has experienced a notable 16.02% increase in value over the last 12 months, backed by remarkable revenue growth of 82% and a robust market capitalization of $42 billion, reflecting investor confidence and positive market sentiment towards the company’s prospects. This achievement underscores the robust growth trajectory of argenx NV, as it continues to capture the attention of market participants with its innovative developments in the biotechnology sector. With multiple valuation metrics suggesting premium pricing, investors seeking deeper insights can access comprehensive analysis through InvestingPro’s detailed research reports, available for over 1,400 top stocks.
In other recent news, argenx SE reported strong first-quarter revenues for its drug Vyvgart, totaling $790 million, marking a 7% increase from the previous quarter. BofA Securities has responded by raising its price target for argenx to $829, citing expectations for second-quarter Vyvgart revenues to reach $885 million, surpassing consensus estimates. Meanwhile, Morgan Stanley (NYSE:MS) has assumed coverage of argenx with an Overweight rating, setting a revised price target of $700. This coverage highlights the launch of Vyvgart Hytrulo for chronic inflammatory demyelinating polyneuropathy (CIDP) in the U.S.
In another development, H.C. Wainwright reiterated its Buy rating with a $720 price target after argenx announced its ARGX-119 has progressed to late-stage clinical development. However, the company faces regulatory scrutiny as the FDA evaluates a potential serious risk associated with Vyvgart Hytrulo. The FDA’s report mentions a severe worsening of CIDP as a potential safety concern, prompting an ongoing assessment of the need for regulatory action. These developments reflect a mix of positive growth prospects and regulatory challenges for argenx SE.
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