Argenx price target raised to $440 from $370 at Truist

Truist raised the firm’s price target on Argenx to $440 from $370 and keeps a Buy rating on the shares. The company remains bullish on the stock ahead of the CIDP, or Chronic Inflammatory Demyelinating Polyneuropathy, PDUFA on June 21st, followed by its “imminent launch”, as well as positive read-through from nipocalimab in Sjogren’s syndrome, the analyst tells investors in a research note. The firm adds that the company’s lead candidate, ARGX-113, is a pipeline-in-a-product with blockbuster potential in multiple autoimmune conditions.