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Argenx selloff a buying opportunity, says TD Cowen

TD Cowen notes Vyvgart’s $790M in Q1 net sales beat consensus and firm’s estimate despite expected, typical Q1 seasonality and unexpected and more pronounced Part D redesign headwinds. Management are confident sales will continue their solid growth in Q2 as “volume growth was robust in Q1 and misunderstood by investors,” according to the analyst, who views the selloff as a buying opportunity given the “robust trends.” The firm keeps a Buy rating and $761 price target on Argenx (ARGX) shares.

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