Argenx price target raised to $533 from $478 at Evercore ISI

Evercore ISI analyst Gavin Clark-Gartner raised the firm’s price target on Argenx to $533 from $478 and keeps an Outperform rating on the shares. Looking ahead to the company’s R&D day next Tuesday, the firm says it doesn’t expect any surprise updates that’ll necessarily move the stock much on that day, but “that doesn’t mean the event isn’t very interesting/important for the company.” Moving on from here, the story isn’t just about the CIDP launch, which Evercore calls “more of a 2025 story,” but also how the rest of the pipeline should be contributing to the valuation, says the analyst, who has refreshed the firm’s model.