argenx Consistently moving into earlier-line MG (Model Update)
Following argenx' recent R&D Day and 1H24 results, we strengthen our confidence in the company's ability to enter into earlier lines of treatment for myasthenia gravis. We raise our FY24 revenue estimates and factor into account ongoing development efforts to enter seronegative gMG and ocular MG patients as well. As such, we adjust our TP from € 492 to € 530, however adopt an Accumulate rating (previously Buy) to reflect fewer major catalysts for the remainder of 2024.Argenx N.V. is a clinical-stage biotechnology company developing a deep pipeline of differentiated antibody-based therapies for the treatment of severe autoimmune diseases and cancer. Utilizing its suite of differentiated technologies, Co. is focused on developing product candidates with the potential to be either first-in-class against novel targets or best-in-class against known, but complex, targets in order to treat diseases with a significant unmet medical need.
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