Guggenheim raised the firm’s price target on Argenx to $440 from $430 and keeps a Buy rating on the shares after the firm updated its model to reflect reported Q4 results. The company has a strong cash position of $3.2B as of year-end 2023 and guided for about $0.5B cash burn in 2024, notes the analyst, who points out that the company received a PDUFA date for Vyvgart Hytrulo sBLA in CIDP of June 21 and the the firm expects approval with a “broad label.”
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