Argenx price target raised to $435 from $430 at SVB Securities

SVB Securities analyst Thomas Smith raised the firm’s price target on Argenx to $435 from $430 and keeps an Outperform rating on the shares after the company reported Q4 results. Shares were notably weaker during the day and closed down about 6.5%, driven by the announcement that current COO Keith Woods will retire and transition to a strategic advisory role, said the firm. While the firm understands the "challenging optics" of the COO transition timing, it believes the weakness was overdone and remains confident ahead of the pivotal ADHERE trial data in CIDP, calling it "one of several upcoming pivotal datasets that we expect will continue to unlock efgartigimod’s multi-blockbuster commercial potential."