In a report released today, Derek Archila from Stifel Nicolaus reiterated a Buy rating on Argenx Se (ARGX), with a price target of $154. The company’s shares opened today at $146.69, close to its 52-week high of $150.92.
Archila said:
“We are reiterating our Buy rating on ARGX shares after the company reported its 2Q19 financials and business update. While we acknowledge the valuation at these levels and the relatively quiet catalyst calendar over the next several months, we continue to view ARGX’s efgartigimod as best positioned in the anti-FcRn class given: (1) its first mover advantage; (2) its ability to be dosed via a low dose, subcutaneous injection for potential chronic therapy; and (3) it has generated proof-of-concept data in three indications (gMG, ITP, PV) and has been well tolerated, the latter of which differentiates it from other programs in the class. So we’d own the stock.”
According to TipRanks.com, Archila is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -11.3% and a 26.3% success rate. Archila covers the Healthcare sector, focusing on stocks such as Madrigal Pharmaceuticals Inc, Rhythm Pharmaceuticals Inc, and NGM Biopharmaceuticals Inc.
Currently, the analyst consensus on Argenx Se is a Strong Buy with an average price target of $168.67.
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The company has a one-year high of $150.92 and a one-year low of $63.81. Currently, Argenx Se has an average volume of 160K.
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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.
