Scotiabank analyst George Farmer initiated coverage of Argenx with a Sector Perform rating and $516 price target. The run-up in Argenx shares since the FDA approval of efgartigimod and recently reported top-line results from a Phase 3 trial in chronic inflammatory demyelinating polyneuropathy, or CIDP, “appears well justified,” but given the rally in the share price the firm recommends maintaining existing positions and being “opportunistic” in buying on a meaningful pullback.
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