On Monday, Jefferies analyst Akash Tewari increased the stock price target for argenx SE (NASDAQ: ARGX), a $40 billion market cap biotech company, to $772 from the previous $750, while reaffirming a Buy rating on the stock.
According to InvestingPro data, the stock currently trades near $656, with analyst targets ranging from $515 to $807. Tewari's updated price target comes after argenx disclosed preliminary fourth-quarter global net sales for Vyvgart and Vyvgart Hytrulo, which reached $737 million, surpassing consensus estimates by approximately 14%.
The company also shared its business and pipeline priorities for 2025, highlighting key developments. Notably, argenx anticipates achieving profitability within the year 2025. In terms of its product pipeline, the company provided updates that include the discontinuation of Vyvgart in bullous pemphigoid (BP (NYSE:BP)) and the introduction of a new named indication for autoimmune encephalitis.
Further updates from argenx include expectations for Phase 2 data for lupus nephritis, which the company forecasts will be available in the second half of 2025. Tewari notes the significance of these developments and maintains that argenx continues to be one of Jefferies' top picks in the sector for the year 2025.
The analyst's commentary underscores the company's strong performance and forward-looking strategy, which are key factors in maintaining the Buy rating and raising the price target. This confidence is supported by argenx's "GREAT" Financial Health Score of 3.18/5 on InvestingPro, though current valuations suggest the stock may be slightly overvalued relative to its Fair Value. This adjustment reflects Jefferies' confidence in argenx's potential for continued growth and success in the coming years.
In other recent news, argenx SE has seen a series of significant developments. Analysts from Piper Sandler have increased their revenue forecasts for argenx's Vyvgart franchise, raising the worldwide revenue predictions to $679 million for Q4 2024, $2,128 million for the full year 2024, and $3,268 million for the full year 2025. This positive outlook is based on new surveys and calculations in the gMG and CIDP sectors, which Vyvgart is being developed to treat.
Piper Sandler has also highlighted argenx's strong performance in the biopharmaceutical sector, pointing to the commercial success of Vyvgart and potential pipeline developments as key drivers for continued growth. The firm has identified argenx as a top pick within the sector.
In addition, argenx's robust commercial strategy and innovation pipeline have been emphasized by Piper Sandler, citing these as key to providing sustained investor returns. The firm has maintained a $620.00 price target on argenx shares, reiterating an Overweight rating.
Oppenheimer has adjusted its price target for argenx to $675, following positive clinical trial results in the treatment of myositis. The firm expressed optimism about argenx's prospects, stating that the recent clinical achievements suggest a broadening of argenx's leadership in the autoimmune category.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.