Douglas Tsao, an analyst from H.C. Wainwright, reiterated the Buy rating on Argenx Se (ARGX – Research Report). The associated price target remains the same with $720.00.
Douglas Tsao has given his Buy rating due to a combination of factors including the robust growth in Vyvgart sales and the promising potential of its prefilled syringe (PFS) launch. Argenx reported significant year-over-year and quarter-over-quarter growth in net product sales, surpassing market expectations. The introduction of the PFS is expected to enhance Vyvgart’s accessibility and convenience, allowing for easier self-administration and travel, which is anticipated to drive further adoption, particularly in CIDP treatments.
Furthermore, the shift towards Medicare Part D coverage is likely to expand patient access, despite potential impacts on gross-to-net adjustments. Tsao also notes that while new competitors like Imaavy have entered the market, Vyvgart’s dosing flexibility and ease of use maintain its competitive edge. The ongoing clinical trials for younger patients further bolster confidence in Argenx’s growth prospects, supporting the Buy recommendation.
In another report released today, Citi also reiterated a Buy rating on the stock with a $803.00 price target.