ArgenX SE shares advanced 2.2% to €898.6 on Wednesday, extending gains after positive Phase 3 trial results for its experimental therapy Vyvgart in autoimmune myositis.
The stock reached an intraday high of €911.4, marking a new 52-week peak before paring gains. Shares have surged nearly 50% since mid-March and more than tripled over the past five years, reflecting strong investor confidence in the company’s pipeline and commercial prospects.
UBS upgraded its rating on ArgenX to Buy from Neutral and raised its price target to €1,400 from €960, citing the potential for Vyvgart to achieve blockbuster status with peak annual sales of approximately $20 billion. The upgrade follows positive data from the Phase 3 ALKIVIA study, which evaluated Vyvgart in autoimmune myositis, a rare autoimmune disease.
Deutsche Bank, however, downgraded ArgenX to Hold on August 25, attributing the move to the stock’s nearly 50% rally from its March lows. Berenberg also shifted its rating to Hold while lifting its price target to €925 from €900, incorporating the myositis trial results into its sales projections for Vyvgart.
Wells Fargo maintained its overweight rating on ArgenX’s ADRs and raised its target to $1,420, aligning with the upbeat outlook for Vyvgart’s commercial trajectory. The broader market environment offered no additional tailwinds, with U.S. benchmarks essentially flat and the BEL 20 index showing limited sector-specific momentum.
The Belgian immunology leader has built a strong position in rare disease treatments, with Vyvgart positioned as a key growth driver amid expanding indications and robust clinical data.
