In a report released yesterday, Tazeen Ahmad from Bank of America Securities maintained a Buy rating on Argenx Se (ARGX – Research Report), with a price target of $804.00.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Tazeen Ahmad’s rating is based on the promising clinical trial results for Argenx Se’s key drug, efgartigimod. The phase 2/3 ALKIVIA trial for myositis showed significant efficacy, with the drug meeting primary and key secondary endpoints. The trial demonstrated a notable improvement in the total improvement score (TIS) compared to placebo, which aligns with expectations from key opinion leaders. This success supports the drug’s potential across various myositis subsets, including the challenging IMNM subtype, and justifies the company’s decision to continue development in all three subtypes.
Additionally, Argenx Se is expanding efgartigimod’s application into other indications, with phase 3 trials for Sjogren’s syndrome and other conditions underway. The company’s strategic pipeline development, coupled with the large commercial opportunity for efgartigimod, positions Argenx Se as a strong investment prospect. The anticipated topline data from ongoing trials further reinforce the Buy rating, as they could validate the drug’s efficacy in additional therapeutic areas.
In another report released today, TD Cowen also maintained a Buy rating on the stock with a $761.00 price target.