Why is argenx stock rallying today?

Argenx (ARGX) discontinued a Phase 3 trial for Vyvgart in Sjögren's disease after it was unlikely to meet its primary endpoint. The decision caused a 24% drop in shares from their year-to-date high. Despite this, ARGX reported strong Q2 sales of $1.5 billion and positive Phase 2 results for FB102 in celiac disease. Analysts maintain a 'Strong Buy' rating with a mean price target of $1,188.

Analysts lowered argenx SE's average price target from $1201.23 to $1192.11, with a range of $823 to $1450. This implies a 28% upside from the Oct. 7 closing price. The consensus rating remains 'Buy' among 28 analysts, with 24 Buys, 4 Holds, and 0 Sells.

Argenx SE (ARGX) shares fell 15% after the company halted its Phase 3 UNITY study of efgartigimod SC in Sjögren's disease due to futility. The stock is trading at $790.89, down from a previous close of $928.44.

argenx (NASDAQ:ARGX) shares dropped 15% after halting a Phase 3 trial of Vyvgart for Sjögren's disease due to futility. The trial failed to meet its primary endpoint, and Baird cut its price target to $823. Meanwhile, argenx reported positive Phase 2 results for FB102 in celiac disease, acquired via its $2.2B purchase of Forte Biosciences.

Argenx shares dropped 15% after its Vyvgart drug failed a Phase 3 trial for Sjögren's disease. The company also reported positive Phase 2 results for a celiac disease drug, FB102. Analysts note the Sjögren's failure removes a potential $1.4B revenue opportunity, but Vyvgart's sales remain strong at $1.5B in Q2.

argenx (NASDAQ: ARGX) reported positive Phase 2 trial results for FB102, its CD122 inhibitor, in celiac disease. The 126-patient study met its primary endpoint, showing statistically significant protection against gluten-induced intestinal damage. No new safety concerns were identified, and the company plans to advance FB102 into Phase 3 development. FB102 has FDA Fast Track Designation for celiac disease and is also being evaluated for vitiligo and alopecia areata.