DeZwarteRidder schreef op 22 september 2018 11:42:
Sell-siders defend Argenx after selloff; shares up 5% premarket
Sep. 20, 2018 8:28 AM ET|About: Argenx SE (ARGX)|By: Douglas W. House, SA News Editor
Thinly traded argenx (NASDAQ:ARGX) is up 5% premarket on average volume on the heels of note from Stifel's Derek Archila (BUY/$139) who says the recent selling (shares are down 19% since touching $99.04 on Monday) is overdone.
Apparently investors perceive that lead drug efgartigimod caused higher-than-expected bleeding rates in its Phase 2 study in thrombocytopenia (low blood platelets), a potential treatment-related adverse event not observed in earlier trials.
In its recent prospectus (page S-7), 28 bleeding events were reported in 12 patients in the treatment group compared to two in the control group.Mr. Archila says the low bleeding rates in the control group could be misleading due to discontinuations, adding that updated safety data to be presented at ASH in early December "may help some investors become more comfortable."
Wedbush's David Nierengarten is also a cheerleader (OUTPERFORM/$125) referring to investors' response to the data as "overblown."Nomura's Christopher Marai (BUY/$161), another cheerleader, says "our analysis suggests no link between increased bleeds and efgartigimod," adding "this data is not concerning in our view."