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Argenx Se: Biotech Company Receives Strong Buy Ratings and Positive Outlook

By Don Francis, Editor
July 30, 2023 5:46 AM UTC
Argenx Se: Biotech Company Receives Strong Buy Ratings and Positive Outlook

Wells Fargo's Derek Archila raised their price target on Argenx Se (NASDAQ: ARGX) by 0.50% from $606.00 to $609.00 on 2023/07/28. The analyst maintained their Strong Buy rating on the stock.

After reviewing Argenx's 2023/07/27 Q2 2023 earnings report and participating in the earnings call, Archila focused on the company’s current stock valuation. On the back of "strong commercial performance" and anticipating ITP and PV Q4 results, the analyst told investors that the stock price will continue to increase steadily.

Guggenheim's Yatin Suneja also issued an update on ARGX on 2023/07/28. That analyst raised their price target by 8.26% and maintained their Strong Buy rating on the stock.

This positive sentiment is echoed by other analysts as well. Currently, 40.00% of top-rated analysts rate ARGX a Strong Buy, while 60.00% consider it a Buy. No analysts see it as a Hold, and none recommend selling the stock.

Argenx SE, a biotechnology company, focuses on developing various therapies for the treatment of autoimmune diseases. Its lead product candidate is efgartigimod, which is currently in Phase III clinical trials for the treatment of myasthenia gravis, immune thrombocytopenia, pemphigus vulgaris, and chronic inflammatory demyelinating polyneuropathy. The company is also developing other immunology innovation programs targeting different diseases.

It's worth noting that Wells Fargo analyst Derek Archila is ranked in the top 2% of Wall Street analysts, with an impressive average return of 43.40% and a win rate of 52.24%. Archila specializes in the Energy and Healthcare sectors.

Many investors find analysts' recommendations and price targets to be useful data points. However, different investors have different priorities and risk profiles. All investors should conduct their own investment due diligence before buying a stock.

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