Argenx upgraded to Overweight from Equal Weight at Barclays

Barclays upgraded Argenx to Overweight from Equal Weight with a price target of EUR 580, up from EUR 390. The firm says that while competitor Phase 3 myasthenia gravis trials remain an overhang the shares in the second half of 2024, strong commercial uptake will drive momentum as the chronic inflammatory demyelinating polyneuropathy launch builds, the analyst tells investors in a research note. The firm says Argenx is set to become profitable in fiscal 2025. It does not expect any competitor results to pose a fundamental risk to Argenx’s current market dominance given Vyvgart’s efficacy and safety.