Barclays ups argenx on autoimmune disease drugs potential

argenx SE

06/08/2024 10:26

** Barclays upgrades argenx  ARGX.BR  to "overweight" from
"equal weight" as it expects higher sales for the Belgian
biotech company driven by autoimmune disease drugs
        ** argenx's chronic inflammatory demyelinating
polyneuropathy (CIDP) and myasthenia gravis (MG) drugs can
generate about $9.4 billion in sales, broker says
    ** Vyvgart can generate sales of about $7 billion in 2030,
it adds
        ** It hikes its revenue estimates by 8% for 2024, 12%
for 2025 and 29% for 2026; it is 14% ahead of cons on 2025
revenue
  
    ** The broker expects argenx to be profitable in 2025 and
adds that peer comparison suggests the company's valuation can
rerate
    ** It hikes its PT on argenx by 49% to 580 euros


 (Reporting by Gianluca Lo Nostro)
 ((gianluca.lonostro@thomsonreuters.com))