On Nov 02, major Wall Street analysts update their ratings for $argenx SE (ARGX.US)$, with price targets ranging from $606 to $688.
Guggenheim analyst Yatin Suneja maintains with a buy rating, and adjusts the target price from $585 to $665.
Baird analyst Joel Beatty downgrades to a hold rating, and adjusts the target price from $515 to $650.
Oppenheimer analyst Leland Gershell maintains with a buy rating, and adjusts the target price from $560 to $646.
Piper Sandler analyst Allison Bratzel maintains with a buy rating, and adjusts the target price from $553 to $620.
Raymond James analyst Danielle Brill maintains with a buy rating, and adjusts the target price from $605 to $688.
Furthermore, according to the comprehensive report, the opinions of $argenx SE (ARGX.US)$'s main analysts recently are as follows:
Argenx's third-quarter performance surpassed expectations, bolstered by robust growth in gMG. The sustained swift pace of the Vyvgart launch in gMG reinforces the belief that the commercial prospects may be more substantial than previously anticipated.
Argenx's net product revenue significantly exceeded consensus estimates, and the launch of Vyvgart Hytrulo into CIDP seems promising. Although revenue per indication was not formally disclosed, observations suggest that the initial uptake for CIDP is mirroring the early performance in the gMG market. This implies sales of approximately $20M in CIDP in the first commercial quarter following the label expansion, which bolsters the strong prospects for market capture in CIDP.
The initial expectations for Vyvgart's revenue contribution in the treatment of chronic inflammatory demyelinating polyneuropathy during the quarter were overly optimistic; however, the product's market introduction is deemed to be strong.
The significant appreciation of Argenx's stock, rising 65% to a $35B market capitalization over the last six months, is attributed to robust revenue in the last two quarters and the positive reception to the company's 'Vision 2030' presented at the R&D day event in July. It is now believed that the current stock valuation reflects the anticipation of 'very strong growth' for Vyvgart in the upcoming quarters, as well as considerable value being given to the company's pipeline. Going forward, it is expected that there might be fewer major developments to act as catalysts.
Here are the latest investment ratings and price targets for $argenx SE (ARGX.US)$ from 9 analysts:
Note:
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