H.C. Wainwright Reiterates Buy Rating on argenx SE (ARGX)

H.C. Wainwright analyst Douglas Tsao reiterated a Buy rating and $1,202.00 price target on argenx SE (NASDAQ: ARGX).

The analyst commented: "FB102 Phase 2 success strengthens confidence in argenx's newly acquired autoimmune asset. argenx (ARGX; Buy) announced positive topline results from the 126-patient Phase 2 FB102 study in celiac disease, meeting the primary endpoint of change in villus height-to-crypt depth (Vh) ratio at Day 78 (p=0.0176). Supportive effects were also observed across intraepithelial lymphocyte (IEL) density, composite histology (VCIEL), and symptoms, with no new safety signals. Importantly, the results extend the positive Phase 1b findings from a 16-day to an eight-week gluten challenge, providing more convincing evidence of sustained intestinal protection. This provides the first Phase 2 evidence that blocking CD122 can prevent gluten-induced intestinal damage in celiac disease. We view the readout as a meaningful validation of argenx's acquisition of Forte Biosciences and an important step toward Phase 3 development. The acquisition of Forte was CEO Karen Massey's first major strategic statement since becoming CEO and the early returns are bearing fruit. argenx's internally developed pipeline—including indication expansion for Vyvgart, epasiprubart, adimanebart, ARGX-213, ARGX-124, as well as others—is robust but the company's ability to deploy capital effectively has the potential to further accelerate growth."

For an analyst ratings summary and ratings history on argenx SE click here. For more ratings news on argenx SE click here.

Shares of argenx SE closed at $818.63 yesterday.

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