Argenx Se: Strong Buy Rating and Increased Price Target by Guggenheim Analyst

By Don Francis, Editor
July 30, 2023 5:44 AM UTC
Argenx Se: Strong Buy Rating and Increased Price Target by Guggenheim Analyst

Guggenheim's Yatin Suneja raised their price target on Argenx Se (NASDAQ: ARGX) by 8.26% from $545.00 to $590.00 on 2023/07/28. The analyst maintained their Strong Buy rating on the stock.

The analyst was responding to the company's Q2 2023 earnings report released on 2023/07/27. Their increased price target reflects the ongoing solid uptake of Vyvgart* for gMG, the pace of which is ahead of Guggenheim's estimate, Suneja told investors.

This positive outlook from Guggenheim follows Wells Fargo's Derek Archila, who also issued an update on ARGX on 2023/07/28. Archila raised their price target by 0.50% and maintained their Strong Buy rating on the stock.

According to data from WallStreetZen, 40.00% of top-rated analysts currently rate ARGX a Strong Buy, while 60.00% are calling the stock a Buy. No analysts see it as a Hold, and no analysts either recommend or strongly recommend that investors sell the stock.

Guggenheim analyst Yatin Suneja is ranked in the top 18% out of 4,285 Wall Street analysts, with an average return of 6.61% and a 50.79% win rate. They specialize in the Healthcare sector.

Argenx SE, a biotechnology company, focuses on developing various therapies for the treatment of autoimmune diseases. Their lead product candidate is efgartigimod, which is currently undergoing Phase III clinical trials for the treatment of patients with myasthenia gravis, immune thrombocytopenia, pemphigus vulgaris, and chronic inflammatory demyelinating polyneuropathy. The company is also working on other immunology innovation programs, including cusatuzumab for hematological cancer and high-risk MDS, as well as ARGX-119, ARGX-117, and ARGX-120 to treat autoimmune diseases.

Argenx SE has strategic partnerships with AbbVie S.À.R.L., Zai Lab Limited, and LEO Pharma A/S, and collaboration and license agreements with various organizations and institutions. The company was incorporated in 2008 and is based in Breda, the Netherlands.

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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