Citizens raises argenx stock price target on ocular MG results

Investment firm Citizens raised its price target on biotechnology company argenx SE (NASDAQ:ARGX) to $944 from $925, citing positive results from the company's ocular myasthenia gravis (MG) treatment program, while maintaining its Market Outperform rating on the stock. The new price target aligns with the broader analyst consensus, with the average target suggesting 32% upside potential for argenx shares. This adjustment comes as argenx continues to demonstrate promising clinical data for its treatments targeting rare autoimmune diseases, particularly in the area of ocular myasthenia gravis, a rare neuromuscular disorder affecting the eye muscles. The increased valuation reflects growing confidence in argenx's pipeline and its potential to capture significant market share in the specialized biotechnology sector.