Analyst Yaron Werber from TD Cowen maintained a Buy rating on Argenx Se (ARGX – Research Report) and keeping the price target at $761.00.
Yaron Werber has given his Buy rating due to a combination of factors that highlight Argenx Se’s strong performance and future potential. Despite facing some headwinds from higher gross-to-net (GtN) discounts, Argenx Se’s Vyvgart achieved $790 million in sales for the first quarter, surpassing both the consensus estimate of $784 million and Werber’s own estimate of $775 million. This performance indicates robust sales volume growth, particularly in the gMG and CIDP markets, which management expects to continue into the second quarter.
Additionally, the company’s financial metrics underscore its profitability and growth potential. The non-GAAP earnings per share (EPS) of $3.31 exceeded expectations, demonstrating the company’s financial leverage and efficiency. With a strong pipeline of upcoming catalysts, solid management, and a model that is expected to drive EPS growth, Werber views the recent stock selloff as an attractive buying opportunity, reinforcing his Buy rating.