Argenx SE (NASDAQ:ARGX) is one of the most profitable biotech stocks to buy. Citi analyst Samantha Semenkow maintained a Buy rating on Argenx SE (NASDAQ:ARGX) on October 23 and set a price target of $1,041. Argenx SE also received a rating update from Bank of America Securities analyst Tazeen Ahmad, who reiterated a Buy rating on the stock and lifted the price target to $942 from $887.
Ahmad based the positive rating on the company’s strong performance and the growth potential of its Vyvgart medication. The analyst stated that Argenx SE reported impressive Q2 revenues for Vyvgart, exceeding expectations with a 20% quarter-over-quarter growth.
The Q3 revenue is expected to surpass $1 billion, supported by the drug’s expansion into new geographical regions and the approval of a prefilled syringe, which is anticipated to boost its usage and accessibility.
Argenx SE is a biotech company that develops treatments for severe autoimmune diseases. The company operates through four segments: the United States, Japan, EMEA, and China.
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This article is originally published at Insider Monkey.
