Argenx price target raised to $513 from $497 at Jefferies

Jefferies analyst Akash Tewari raised the firm’s price target on Argenx to $513 from $497 and keeps a Buy rating on the shares after the report of ADHERE trial top-line data that the firm says “looks very strong” and approaches its previously laid out bull-case scenario. The firm, which has increased its view on the odds of success in this indication to 100%, models $1.74B in worldwide peak sales for Vyvgart in CIDP and “wouldn’t be surprised to see ARGX approach $500+ if ADHERE’s top-line data holds up.”