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Shares of Immunovant fell 3.8% to $18.08 after UBS analysts deemed the late-stage data for its muscle disease drug, batoclimab, "unconvincing." While the drug showed some improvement in daily activities for myasthenia gravis patients, it did not meet expectations set by Argenx's Vyvgart. The company plans to focus on developing its other experimental drug, IMVT-1402, rather than seeking regulatory approval for batoclimab.
Shares in Immunovant fell 3.8% to $18.08 after UBS analysts described late-stage data for its muscle disorder drug, batoclimab, as "disappointing." The drug, tested for myasthenia gravis, showed some efficacy, but did not meet expectations set by Argenx's Vyvgart. Immunovant plans to focus on developing its other investigational drug, IMVT-1402, rather than seeking marketing authorization for batoclimab.
Deutsche Bank has downgraded Argenx SE (ARGX) stock to a Sell rating as of January 17, 2025. This decision reflects a shift in market sentiment towards the company, which is now facing increased scrutiny alongside competitors like Amgen (AMGN), Johnson & Johnson (JNJ), and Immunovant (IMVT).
Analysts have made several notable recommendations, including JP Morgan maintaining an Underweight rating for Adecco with a reduced target of CHF 19.60, while Air France-KLM was downgraded by Barclays to Underweight with a target of EUR 7. ArgenX received a buy rating from HC Wainwright & Co, raising its target to 717 USD, and BioMérieux was upgraded to Outperform by Oddo BHF with a target of EUR 132. Other significant changes include upgrades for Deliveroo and Orange, while OVH Groupe remains a sell with a raised target of EUR 8.50.
In 2023, European companies raised €11.7 billion, a 9% increase from the previous year, driven by a 51% rise in IPOs and refinancings. The UK, Switzerland, and France led fundraising efforts, while venture capital fell by 19%, particularly impacting the French and British HealthTech sectors. Despite a challenging year, refinancing on secondary markets surged by 51%, with the Netherlands achieving the highest levels.
argenx SE
Companies
| Symbol | ARGX |
| Name | argenx SE |
| Currency | USD |
| Sector | Health Care |
| IndustryGroup | Pharmaceuticals, Biotechnology & Life Sciences |
| Industry | Biotechnology |
| Market | NASDAQ Global Select |
| Country | Netherlands |
| State | |
| City | Breda |
| Zipcode | 4811 AH |
| Website | http://www.argenx.com |
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
Immunovant shares decline as UBS questions late-stage drug trial results
14:52 19.03.2025
Immunovant shares decline after disappointing late-stage drug trial results
14:52 19.03.2025
argenx stock downgraded to sell by deutsche bank
20:54 17.01.2025
analysts update recommendations and price targets for key european stocks
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08:48 15.01.2025
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