Argenx stock surges 5% following Oddo BHF price target increase
The Dutch biotechnology company rebounds sharply during the session, after a lackluster low and two days ahead of a quarterly meeting. A price target increase signed by a French brokerage firm accompanies this renewed appetite, in a Paris market that is declining.
Oddo BHF raises its target to €875 and the stock gains ground
Argenx stock gains 4.99% to €766.20 in mid-afternoon trading, while the CAC 40 falls 0.61% and the SBF 120 drops 0.62%. The stock has advanced 4.5% over the week, but today's rebound only narrows the gap with its moving averages: it remains 3.73% below the 20-day MA (€795.90) and 7.83% below the 50-day MA (€831.26), while maintaining a 3.83% gain above the 200-day MA (€737.95). Oddo BHF raised its price target today from €855 to €875, with an outperform rating, representing approximately 14% upside potential from the current price.
Argenx had also announced on October 19 that the results of the phase 3 ALKIVIA study in autoimmune myositis would be detailed on November 11 at the ACR Convergence Congress in Orlando. This study met its primary endpoint, with a 15.4-point difference in favor of efgartigimod on the total improvement score at 52 weeks.
RSI at 37 and support at €705.60 mark the recent pullback
With an RSI at 37.39, the stock remains in a relatively low zone of its recent range, following a month marked by the loss of its two short-term moving averages. Support is found at €705.60, approximately 8% below the current price, while resistance is at €871.40. The market also digested on October 8 the discontinuation of the UNITY trial in Sjögren's disease, decided on the advice of an independent committee, while FB102 had met its primary endpoint in phase 2 in celiac disease on the same day. The next milestone is the publication of third-quarter 2026 results, scheduled for October 22.
