Scotiabank upgraded Argenx (ARGX) to Outperform from Sector Perform with a price target of $715, up from $439. The firm sees upside potential for the shares driven by Vyvgart sales and key trial outcomes and Phase 3 starts expected over the next 12 months. Steady quarter-over-quarter growth in the myasthenia gravis treatment segment supports the “entrenched status” of Vyvgart as the anti-FcRn therapy of choice, the analyst tells investors in a research note. Scotiabank also sees reasonable probability of success for a Phase 3 go decision in myositis, expected by year-end, which it believes would be positive for the stock.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ARGX:
- Argenx upgraded to Outperform from Sector Perform at Scotiabank
- Argenx price target raised to EUR 620 from EUR 570 at JPMorgan
- Argenx price target raised to EUR 525 from EUR 500 at Deutsche Bank
- Argenx price target raised to $660 from $540 at Truist
- PayPal, Estee Lauder downgraded: Wall Street’s top analyst calls