Argenx falls after Vyvgart trial update on myositis drug, brokers remain positive

argenx SE

24/06/2026 09:03

** Shares in Argenx ARGX.BR fall around 6% after the Belgian pharmaceutical presented research data of its Vyvgart drug to treat myositis on Tuesday
** The company said it would no longer pursue one myositis subtype and would analyse the remaining two separately in its late-stage trial, where one subgroup has shown less robust evidence of efficacy
**  J.P. Morgan noted that while there may be concerns about the likelihood of success in the DM subtype, the updated strategy increases confidence that the IMNM subgroup will meet its endpoints, which they estimate could add €150 per share to the stock
** KBC Securities says that dropping the PM subgroup reduces the addressable market by only around 10,000 patients, leaving the majority - roughly 60,000 patients - still in reach
** Kempen Daily sees the change in strategy providing greater clarity going forward, adding that "with the (U.S. listed) shares down around 8% during the event, we see a larger value correction than reasonable - a buying opportunity"
** Shares are at the bottom of both the wider Belgian Bel20 .BFX and European Health Care .SXDE indices, with today's losses tempering the stock's year-to-date gains to around 7%

 (Reporting by Jakob Van Calster)
 ((jakob.vancalster@thomsonreuters.com))