Why is argenx stock rallying today?
Arigenx SE stock experienced a 4.7% rally, reaching €738.6, after the biotech suffered a sharp decline following the termination of its Phase 3 UNITY study for subcutaneous efgartigimod in adults with moderate-to-severe Sjögren’s disease. The Independent Data Monitoring Committee recommended halting the trial due to an interim analysis indicating the study would not meet its primary endpoint measuring systemic disease activity, causing the stock to drop roughly 15.9% on October 8.
The rally reflects a combination of bargain-hunting and reassessment of the selloff's severity, with analysts adjusting price targets and maintaining a positive outlook on the company's pipeline.
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