Argenx Stops Phase 3 Vyvgart Trial in Sjögren's Disease After Monitors Find the Study Cannot Meet Its Goal

argenx reported positive phase II results for FB102, a treatment for celiac disease, meeting its primary endpoint. The study showed significant improvement in intestinal damage compared to placebo. Despite this, shares fell 12% due to another announcement. argenx plans to advance FB102 into late-stage development. The company also has other autoimmune disease treatments in development.

Morgan Stanley reduced its price target for Argenx (ARGX) to $1,140 from $1,250, maintaining an Overweight rating. The change follows the company's discontinuation of the Phase 3 UNITY study in Sjogren’s due to futility. The analyst views the updates as mixed for the indication but supportive of the broader investment thesis.

Argenx SE received a 'Buy' rating from DZ Bank and a 'Neutral' rating from Deutsche Bank. The stock has a 5-day change of +3.83%, a 1st Jan change of -10.23%, and a 2.12% increase at 08:55am. Ratings are based on various composite factors including valuation, EPS revisions, and visibility.

Argenx (ARGX) reported positive Phase 2 data for FB102 in celiac disease and halted its Phase 3 UNITY trial in Sjögren's disease. The stock has fallen 18.5% over 30 days, but long-term returns remain strong. Analysts debate its valuation, with some seeing it as slightly overvalued at €705.60, while a DCF model suggests significant undervaluation at €2,651.18.

H.C. Wainwright reiterated a Buy rating and $1,202 price target for argenx (ARGX) after positive Phase 2 trial results for FB102 in celiac disease. The stock is up 15% premarket. ARGX showed 70% revenue growth over the last year. Analysts have varied price targets and ratings for the company.

Argenx (ARGX) halted its Phase III UNITY trial of efgartigimod SC for Sjögren's disease after an IDMC recommended stopping due to futility. The study failed to meet its primary endpoint, though safety data was consistent. Shares fell 16% to €705.40.