Baird analyst Collen Kusy downgraded Argenx (ARGX) to Neutral from Outperform with a price target of $858, down from $924. The stock’s valuation “feels stretched” at current levels, the analyst tells investors in a research note. The firm expects continued strong sales growth in 2026 for Argenx, but thinks high expectations are already baked into the shares. As such, Baird is “not chasing it here.”
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