Argenx price target raised to $510 from $470 at UBS

UBS raised the firm’s price target on Argenx to $510 from $470 and keeps a Neutral rating on the shares. The success in both science and commercial execution of Vyvgart, a blockbuster drug for rare diseases, is what makes Argenx a favored, top biotech story in Europe, the analyst tells investors in a research note. With almost $6B peak sales from approved indications, the firm sees limited downside for Argenx shares. However, the firm is cautious on upside to the chronic inflammatory demyelinating polyneuropathy launch given the high price and potential payor restrictions suggested by its survey results.