On August 26, Argenx SE rose 3.85% in pre-market trading, trading at $1,058.75 per share, with turnover of $253,400. The rebound follows a 2.8% decline in the prior session, as sustained positive sentiment from the company's Phase 3 myositis trial success and multiple analyst upgrades continues to support the stock.

The catalyst chain traces back to August 17, when Argenx announced its Phase 3 ALKIVIA trial of Vyvgart Hytrulo in autoimmune myositis met its primary endpoint, showing a 15.4-point improvement in mean Total Improvement Score versus placebo at week 52. Notably, this marked the first Phase 3 trial to demonstrate statistically significant improvement in immune-mediated necrotizing myopathy, a subtype with no approved therapies. The stock surged nearly 9% on that day.

Following the data readout, Wedbush raised its price target to $1,150 from $1,050, while RBC, Morgan Stanley, and Oppenheimer all noted the results de-risk the estimated $1.5 to $2 billion myositis market opportunity. Fundamentally, Q2 revenue of $1.542 billion beat consensus by 7%, and EPS of $7.32 exceeded estimates by 17%, reinforcing robust commercial execution.

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