Argenx NV ADR shares reached a record $1,059.86 on Thursday, extending a 49.91% gain over the past year as investors reacted to positive clinical trial results for its flagship drug Vyvgart.
The biotechnology company’s market capitalization has expanded to $66 billion, supported by a 70% increase in revenue over the last twelve months. The milestone comes after Argenx reported that its Phase 3 ALKIVIA trial in myositis met its primary endpoint, validating the drug’s efficacy in treating the rare disease.
Analysts have adjusted their outlooks following the trial results. UBS upgraded Argenx from Neutral to Buy and raised its price target to $1,400, citing the successful launch and expansion of Vyvgart. RBC Capital maintained an Outperform rating while lifting its target to $1,100, and Citizens increased its price target to $1,200 with a Market Outperform rating. TD Cowen also raised its target to $1,353, citing higher fiscal 2027 revenue expectations for Vyvgart.
Deutsche Bank, however, took a more cautious stance, downgrading Argenx to Hold from Buy despite raising its price target to €925. The mixed analyst reactions reflect differing assessments of the drug’s market potential and valuation at current levels.
InvestingPro analysis suggested the stock appeared slightly undervalued based on its Fair Value assessment, though the company’s premium valuation remains a point of debate among investors.
