Stifel Nicolaus analyst Derek Archila reiterated a Buy rating on Argenx Se (ARGX) yesterday and set a price target of $154. The company’s shares closed yesterday at $126, close to its 52-week high of $135.58.
Archila commented:
“We are reiterating our Buy rating on shares after hosting investor meetings with the company earlier this week, where we spent time with ARGX’s CEO and CFO Eric Castaldi. In our September 2018 initiation we said ARGX was a “must own stock” and after our recent time with management we remain firmly convicted in that fact. We think management’s approach to pipeline development and indication selection through its innovative access program is a key differentiator for the company and believe ARGX will continue to replicate the success that it has had with efgartigimod (anti- FcRn) and cusatuzumab (anti-CD70) with future assets.”
According to TipRanks.com, Archila has currently no stars on a ranking scale of 0-5 stars, with an average return of -8.1% and a 36.2% success rate. Archila covers the Healthcare sector, focusing on stocks such as DBV Technologies SA – American, Rhythm Pharmaceuticals Inc, and Principia Biopharma Inc.
Argenx Se has an analyst consensus of Strong Buy, with a price target consensus of $151.67, a 20.4% upside from current levels. In a report issued on May 10, Cowen & Co. also maintained a Buy rating on the stock.
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The company has a one-year high of $135.58 and a one-year low of $63.81. Currently, Argenx Se has an average volume of 167.2K.
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argenx SE is a clinical-stage biotechnology company, which engages in the development of antibody-based therapies for the treatment of autoimmune diseases and cancer. Its products include ARGX-113 for the treatment of autoimmune disease myasthenia gravis and ARGX-110 for the treatment of hematological cancer acute myeloid leukemia.
