William Blair analyst Matt Phipps has maintained their bullish stance on ARGX stock, giving a Buy rating yesterday.
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Matt Phipps has given his Buy rating due to a combination of factors related to Argenx’s promising developments in their ALKIVIA study. The Phase II results indicate that efgartigimod, the drug being evaluated, shows significant efficacy in treating myositis, with improvements in both primary and secondary endpoints when compared to placebo. This suggests a strong potential for success in the ongoing Phase III trial.
Moreover, the safety profile of efgartigimod appears favorable, with fewer severe adverse events reported in comparison to the placebo group. Although there were two deaths in the efgartigimod arm, they were considered unrelated to the treatment, which supports the drug’s safety. These positive indicators contribute to the optimism surrounding Argenx’s future prospects, justifying the Buy rating.
In another report released yesterday, Wedbush also initiated coverage with a Buy rating on the stock with a $715.00 price target.