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Argenx Se (ARGX) Initiated with a Buy at SVB Securities

SVB Securities analyst Thomas Smith initiated coverage with a Buy rating on Argenx Se (ARGXResearch Report) yesterday and set a price target of $404.00. The company’s shares closed last Tuesday at $313.48.

According to TipRanks.com, Smith ‘s ranking currently consits of 0 on a 0-5 ranking scale, with an average return of -29.6% and a 16.8% success rate. Smith covers the Healthcare sector, focusing on stocks such as Connect Biopharma Holdings, Madrigal Pharmaceuticals, and Prometheus Biosciences.

Currently, the analyst consensus on Argenx Se is a Strong Buy with an average price target of $379.45.

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Based on Argenx Se’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $23.41 million and GAAP net loss of $227 million. In comparison, last year the company earned revenue of $8.73 million and had a GAAP net loss of $24.94 million.

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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. The company was founded by Hans J. W. de Haard, Torsten Dreier, and Tim van Hauwermeiren on April 25, 2008 and is headquartered in Breda, the Netherlands.

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