Argenx price target raised to $545 from $505 at Guggenheim

Guggenheim analyst Yatin Suneja raised the firm’s price target on Argenx to $545 from $505 and keeps a Buy rating on the shares after the company announced that the ADHERE pivotal trial in CIDP successfully met the primary endpoint with topline data ahead of Street expectations. Due to Vyvgart’s superior safety/tolerability profile compared to IVIg, and the convenient subQ administration, the firm expects the drug to compete with IVIg as first line treatment and estimates $3B in total peak sales, the analyst tells investors.