William Blair analyst Myles Minter has reiterated their bullish stance on ARGX stock, giving a Buy rating today.
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Myles Minter has given his Buy rating due to a combination of factors surrounding the promising results from Argenx’s Phase III ADAPT SERON study. The study demonstrated that efgartigimod (Vyvgart) achieved statistically significant and clinically meaningful reductions in the Myasthenia Gravis Activities for Daily Living (MG-ADL) score for seronegative gMG patients, which is a notable achievement as it represents the first FcRN inhibitor to show such efficacy in this patient subgroup.
Furthermore, Argenx plans to submit a supplemental BLA for efgartigimod to the FDA by the end of 2025, potentially expanding its label to include all gMG patient subtypes. This expansion could significantly increase Vyvgart’s market penetration, adding approximately 11,000 seronegative gMG patients to its target market. The success of Vyvgart in achieving broader approval would position it favorably against competitors like Johnson & Johnson’s nipocalimab and UCB’s rozanolixizumab, which have not shown similar efficacy in seronegative patients.
In another report released today, RBC Capital also initiated coverage with a Buy rating on the stock with a $850.00 price target.