William Blair analyst Myles Minter has reiterated their bullish stance on ARGX stock, giving a Buy rating yesterday.
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Myles Minter has given his Buy rating due to a combination of factors highlighting Argenx’s promising growth potential. The company is experiencing a robust expansion with its Vyvgart franchise, particularly in the treatment of generalized myasthenia gravis and chronic inflammatory demyelinating polyneuropathy. This growth is underscored by Vyvgart’s impressive annual revenue increase and its strategic position as a core holding in the biotech sector.
Minter also emphasizes Argenx’s forward-looking strategy, which includes a comprehensive plan for sustainable growth through 2030. This involves the development of five new molecules in Phase III trials and targeting ten labeled indications, aiming to serve over 50,000 patients. The company’s commitment to diversifying beyond Vyvgart is seen as a vital step in ensuring long-term growth, making it a compelling investment opportunity.
In another report released yesterday, Bank of America Securities also reiterated a Buy rating on the stock with a $887.00 price target.