Argenx (ARGX) has underappreciated pipeline value beyond Vyvgart in generalized myasthenia gravis and in chronic inflammatory demyelinating polyneuropathy, Morgan Stanley said in a Tuesday report.

"Investor focus has centered largely on Vyvgart execution in gMG and CIDP, with minimal credit given to additional indications or pipeline assets," the report said.

"With a catalyst-rich period ahead over the next 12-18 months, including multiple Ph3 and Ph2 proof-of-concept readouts, we

see meaningful, underappreciated upside across the broader pipeline," the note added.

The report said six additional indications were added for Vyvgart and one for empasiprubart, driving Morgan Stanley's price target on the stock to $1,040 from $766. It kept its overweight rating.

(MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www.mtnewswires.com/contact-us)

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