BofA Securities raised its price target on argenx SE (NASDAQ:ARGX) to $880.00 from $829.00 on Thursday, while maintaining a Buy rating following the company’s second-quarter results.
Argenx reported second-quarter Vyvgart revenues of $949 million, representing 20% quarter-over-quarter growth and exceeding both BofA’s estimate of $885 million and consensus expectations of $863 million. This performance aligns with the company’s impressive 82% year-over-year revenue growth rate.
The company experienced strong global demand growth that more than offset an approximately 8% increase in gross-to-net adjustments during the first half of 2025, according to BofA Securities.
Argenx saw significant tailwinds following the April launch of its pre-filled syringe option, which allows for convenient at-home dosing. This resulted in a record number of new patient starts in the second quarter and expanded the company’s reach to approximately 150 new Vyvgart prescribers.
BofA Securities noted that Vyvgart is approaching $1 billion in global quarterly sales with further growth potential through indication expansion, and the firm continues to highlight argenx as a top pick for 2025. The company maintains a healthy balance sheet with minimal debt and strong profitability metrics.
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