Argenx price target raised to $478 from $471 at Stifel

Stifel analyst Alex Thompson raised the firm’s price target on Argenx to $478 from $471 and keeps a Buy rating on the shares. Thompson thinks that the ADHERE Ph3 readout in CIDP is likely to succeed, representing the next important step in the efgartigimod label expansion story adding support to the Argenx Bull Case into additional 2H23 catalysts, the analyst tells investors in a research note.