Argenx stock (NASDAQ: ARGX) has experienced a significant surge this year, gaining 66%, and achieving a new all-time high in trading yesterday at $643.63. The biopharmaceutical company, renowned for its innovative therapies, has become a focal point for investors and analysts alike due to its robust financial growth and expanding market influence, with analysts also coming in with bullish updates in recent weeks.
The company’s current market capitalisation stands at $38.24 billion, highlighting its significant presence in the biopharmaceutical sector. Argenx is also delivering operational growth, evidenced by an 85.6% rise in revenue.
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Argenx's third-quarter net product revenue reached $573 million, surpassing market estimates and reflecting the company's strong financial performance. This performance has prompted analysts from leading financial institutions such as JP Morgan, Evercore ISI, Barclays, and Oppenheimer to upgrade their price targets for ARGX. Here is a shortlist of the most recent movements in targets:
- Oppenheimer – $675 from $646
- Evercore ISI – $706 from $675
- JP Morgan – €740 (~$777) from €620
- Barclays – €670 (~$703.50) from €650
One of the key drivers of this growth is Argenx's drug Vyvgart, which is competitive in treating generalised myasthenia gravis and chronic inflammatory demyelinating polyneuropathy. Furthermore, the company reported positive clinical trial data for a myositis treatment, bolstering investor confidence in its product pipeline.
Analysts anticipate that 2025 will mark Argenx's first profitable year. As the company continues to develop its range of therapies and capture market share, it remains a prominent player to watch within the biopharmaceutical industry.
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