sutthirat sutthisumdang Oppenheimer has upgraded Argenx ( NASDAQ: ARGX ) to outperform, citing the growth potential of its drug Vyvgart Hytrulo. The investment bank said it based the upgrade in part on its physician survey “that reveals strong enthusiasm to adopt Vyvgart Hytrulo in its newly approved CIPD indication,” which Oppenheimer sees as a $2B+ sales opportunity. Oppenheimer also cited “management’s tempering of expectations around initial uptake given time needed to secure payor agreements” and a recent investor event that highlighted the company’s pipeline prospects.
“We expect ARGX's first-in-class/best-in-class antibody engineering and development engine for autoimmune/inflammatory diseases to support a long and fat revenue tail through multiple pipeline-in-product opportunities—think Regeneron ( REGN ),” Oppenheimer added in its note. The investment bank has a price target of $546 on the stock. More on Argenx SE, Biohaven, etc.
Ionis Pharmaceuticals, Inc. (IONS) HALOS Study of ION582 in Angelman Syndrome - (Transcript) IQVIA Holdings Inc. (IQV) Q2 2024 Earnings Call Transcript argenx SE: A Post FDA Approval Assessment IQVIA up 6% following FY 2024 guidance update, quarterly beats Ionis reports positive Phase 1/2 data for Angelman therapy.
