Morgan Stanley assumed coverage of Argenx (ARGX) with an Overweight rating with a price target of $700, down from $750. The firm sees ongoing robust growth in Vyvgart that has an underappreciated opportunity in new indications with a strong balance sheet, the analyst tells investors in a research note. Vyvgart’s additional indications could add roughly $3B in sales by 2035, while the development of ARGX-213 may extend Argenx’s revenue post-Vyvgart patent expiry, the firm says.
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