Argenx upgraded to Outperform at Baird ahead of Phase 3 results in CIDP

As previously reported, Baird analyst Joel Beatty upgraded Argenx to Outperform from Neutral with an unchanged price target of $460. The firm sees a good entry point into the stock ahead of what it anticipates will be successful registrational trial results for CIDP in Q2, which could "reintroduce a strong acquisition premium into the stock," the analyst tells investors. Baird also anticipates efgartigimod sales for gMG will continue to grow at "a good rate," boosted by a new formulation approval it expects to come in June.