Argenx price target raised to $706 from $675 at Evercore ISI

Evercore ISI analyst Gavin Clark-Gartner raised the firm’s price target on Argenx (ARGX) to $706 from $675 and keeps an Outperform rating on the shares. The decision to continue in Phase 3 in all three myositis subtypes is “a nice positive and supports future pipeline value, but isn’t necessarily a huge stock moving event,” the analyst tells investors. For now, the firm updated its model to include 70% odds of success for myositis, noting it can adjust this percentage further when the firm sees full data at a future medical conference.