Piper Sandler raises argenx PT on potential of neurological treatments

argenx SE

26/01/2024 11:53

** Brokerage Piper Sandler raises PT for argenx SE  ARGX.BR 
 ARGX.O  to $522 from $518
    ** New PT represents a 36.5% upside to the stock's last
close
    ** "We think the current valuation meaningfully undervalues
the derisked gMG and CIDP opportunities" - Piper Sandler
    ** gMG is a neuromuscular disease and CIDP is a neurological
disorder involving reduced senses in the arms and legs
    ** The brokerage expects co's gMG drug Vyvgart to be a major
driver of the stock this year
    ** Nineteen of 23 brokerages rate the stock "buy" or higher
and 4 "hold"; their median PT is $481 - LSEG data
    ** As of last close, stock mostly flat in the past 12 months

 (Reporting by Christy Santhosh)
 ((Christy.Santhosh@thomsonreuters.com))