Leerink Partners analyst Thomas Smith has reiterated their bullish stance on ARGX stock, giving a Buy rating yesterday.
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Thomas Smith’s rating is based on several factors, including the recent developments and data surrounding Argenx Se’s products. Despite the volatility in ARGX shares due to the FDA’s adverse event report, Smith believes the concerns over Vyvgart’s potential for CIDP worsening are overestimated. The low single-digit rate of adverse events has been consistent with previous clinical and real-world data, and the limitations of the FAERS data, such as voluntary reporting and potential data quality issues, are acknowledged.
Additionally, Smith highlights the advancement of ARGX-119 into a pivotal program for congenital myasthenic syndromes as a positive development. The initial proof-of-concept data showed consistent improvement across multiple efficacy measures, indicating a promising future for the drug. Overall, Smith views Argenx Se as a strong player in the immunology sector, with a compelling product launch and a promising pipeline that could drive future growth.
In another report released yesterday, H.C. Wainwright also reiterated a Buy rating on the stock with a $720.00 price target.