On Monday, Truist Securities maintained a Buy rating on argenx SE (NASDAQ: ARGX) stock.
The adjustment comes after argenx reported preliminary fourth-quarter 2024 revenues of $737 million, surpassing both Truist Securities' estimate of $646 million and the consensus projection of $651 million.
The firm's analysts raised the price target to $700 from the previous $660. They believe that argenx's research and development (R&D) and selling, general, and administrative (SG&A) expenses guidance of approximately $2.5 billion for 2025, in the context of its growing revenue, indicates a steady march towards profitability.
The company's ambitious plan to conduct 10 registrational and 10 proof of concept (PoC) studies in 2025 was highlighted as an enhancement of the "multiple shots on goal" strategy, often employed in the biotechnology sector.
Truist Securities expressed a strong conviction in argenx's potential, suggesting that the company is on track to not only meet but potentially exceed its "Vision 2030" goals. This vision likely includes a range of long-term strategic objectives for the company's growth and market presence.
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