Argenx price target raised to $408 from $402 at Scotiabank

Scotiabank analyst George Farmer raised the firm’s price target on Argenx to $408 from $402 and keeps a Sector Perform rating on the shares. The analyst revised estimates upward following review of the company’s recent annual filing and a review of product revenue and expense ramps. Key 2024 catalysts for Argenx include results from three Phase 2 trials evaluating efgart in Sjogren’s, as well as myositis and post-Covid postural orthostatic tachycardia syndrome later this year, which should provide insight into the broader utility of FcRn inhibition for treatment of autoimmune disease, the analyst tells investors in a research note.