Morgan Stanley Maintains Overweight Rating for argenx: Here's What You Need To Know
Portfolio Pulse from Benzinga Insights
Morgan Stanley has maintained its Overweight rating on argenx (NASDAQ:ARGX) but reduced its price target from $607.00 to $586.00. Despite the reduction, the new target suggests a potential upside of 34.62% from the current price of $435.29. Argenx specializes in antibody engineering for rare autoimmune diseases and has had its drug Vyvgart approved in the U.S., Europe, and Japan.
November 30, 2023 | 5:00 pm
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
Morgan Stanley reaffirmed its Overweight rating on argenx, but lowered the price target from $607 to $586, indicating a significant potential upside from the current trading price.
The maintenance of an Overweight rating by a major analyst firm like Morgan Stanley generally signals confidence in the company's future performance, despite the slight decrease in the price target. The new target still suggests a substantial upside, which could positively influence investor sentiment and potentially drive the stock price up in the short term.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100