Shares of Dutch biotechnology firm Argenx SE ADR ARGX jumped this week after a powerful third-quarter earnings print. Analysts shortly raised their value targets on the inventory.
The Argenx Analysts: The next analysts launched notes following argenx’s earnings:
- Piper Sandler analyst Allison M. Bratzel, reiterating an Obese score, elevating its value goal from $553 to $620.
- Oppenheimer analyst Leland Gershell, reiterating an Outperform score, elevating its value goal from $560 to $646.
- Truist analyst Joon Lee, reiterating a Purchase score, elevating its value goal from $540 to $660.
- Residents JMP analyst Jason N. Butler, reiterating an Outperform score, elevating its value goal from $497 to $606.
Piper Sandler: Bratzel famous that the rescinding of Argentx’s money burn steerage implies a rise within the firm’s income outlook in coming quarters.
“Whereas hand-wringing in regards to the aggressive panorama will proceed to come back and go, we proceed to consider that
ARGX has set a particularly excessive bar with Vyvgart’s medical profile and has solidified themselves as dominant gamers within the gMG house (and soon-to-be CIDP house),” the analyst stated.
Accordingly, Bratzel raised income estimates within the close to time period.
Oppenheimer: Gershell famous the potential to beat long-term affected person estimates.
“With >3,000 complete Vyvgart prescribers and ~10K handled sufferers, ARGX seems on observe to realize its Imaginative and prescient 2030 objective of 50K sufferers on remedy—and we see potential to exceed this.”
The analyst additionally believes that Argentx is sufficiently managing bills, pipeline and industrial calls for.
Truist: Lee is inspired by Argentx’s immunology and irritation pipeline.
“Most significantly, in our view, ARGX has probably the most enviable I&I pipeline within the business with a number of information read-outs over the subsequent 12-18 months.”
The analyst will carefully watch world enlargement in Japan, the European Union, China and Canada in 2025.
Residents JMP: Butler highlighted Argentx’s sturdy quarter, success in its CIDP launch and ongoing
world enlargement of VYVGART.
“We view the preliminary launch of VYVGART Hytrulo in CIDP as sturdy, with over 300 CIDP sufferers presently on therapy as of the tip of 3Q24,” the analyst stated. “85-90% of sufferers on drug transitioned from IVIg, supporting the market swap potential. 25% of CIDP prescribers are first time prescribers and a few additionally prescribed for MG.”
Butler additionally famous administration’s “Imaginative and prescient 2030” objective of 5 new molecules in Section 3, 10 labeled indications, and 50k sufferers.
Worth Motion: Shares of Argentx rose over 6% on Thursday and, on the time of writing, is up over 1% on Friday.
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