Argenx price target raised to $121 from $114 at Wedbush

Wedbush analyst David Nierengarten raised his price target for Argenx to $121 from $114 as he lowered his discount rate on the program following positive topline efgartigimod data in immune thrombocytopenia that demonstrated clinically meaningful improvements in platelet counts that were both deep and durable compared to placebo. In a research note to investors, the analyst says Argenx plans on moving efgartigimod into a Phase 3 ITP trial it schedules an end of Phase 2 meeting with the FDA and looks forward to full ITP data at the ASH meeting in December. Nierengarten maintains an Outperform rating.
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