Justin Smith, an analyst from Bernstein, maintained the Buy rating on arGEN X. The associated price target was lowered to €870.00.
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Justin Smith’s rating is based on several compelling factors that suggest a promising outlook for arGEN X. The company’s potential market capitalization exceeding $100 billion is supported by robust sales projections for 2030, which are notably higher than current consensus estimates. This optimistic scenario is bolstered by the anticipation of five phase 3 clinical trial results expected next year, particularly for their leading drug Vyvgart and another promising candidate, empasibprubart.
Furthermore, Smith highlights the significant upside potential in arGEN X’s share price, driven by the company’s strategic execution and expansion plans. The forecasted increase in treated patients and the company’s strong pipeline contribute to a positive risk-reward balance. Despite a slight reduction in earnings per share estimates due to increased operational expenses, the long-term growth prospects remain strong, with the potential for substantial returns for investors.
In another report released on October 31, Barclays also maintained a Buy rating on the stock with a €850.00 price target.