Wells Fargo analyst Derek Archila reiterated an Overweight rating and $741 price target on Argenx (ARGX) following the FAERS quarterly report, in which the company noted a potential signal of a serious risk/new safety information for Vyvgart in chronic inflammatory demyelinating polyneuropathy. The firm believes the selloff in the shares following the news is overblown, and would be a buyer on the weakness. The firm added that it doesn’t think Vyvgart is worsening CIDP and sees little risk to any negative changes to its label in the future that would impact uptake.
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