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Citing a catalyst-rich year, Cowen classified Dutch biotech argenx (NASDAQ:ARGX) is the best idea for 2023 on Tuesday, giving it an Outperform rating and a target of $441 per share.
Analysts led by Yaron Werber argue that the company the leading candidate, efgartigimod, “has a best-in-class record with a first-mover advantage across several multi-billion dollar markets” with potential availability in both intravenous and subcutaneous formulations. skin.
In December 2021, the FDA approved the efgartigimod injection branded as Vyvgart . for myasthenia gravis (gMG).
The company’s biological license (BLA) application for SC efgartigimod is currently under FDA review for gMG. Cowen expects its approval by March 20 PDUFA to add a headwind to the recent launch of intravenous efgartigimod.
The analysts are also optimistic about the Phase 3 data for SC efgartigimod in primary immune thrombocytopenia (ITP) and pemphigus vulgaris in the second half of 2023, noting that the indicators could support support for a US/European Union launch in 2025.
Cowen estimates efgartigimod’s peak global sales at $6.3 billion, led by a 55% contribution from the myasthenia gravis indication and an 11% share in the ITP.
Looking for an Alpha Contributor, ONeil Trader recently argued in a bullish argument about argenx (ARGX) that Vyvgart released continue to achieve top expectations.
