Argenx Se (ARGX) AI Stock Analysis

• Market Cap: $49.76B
• Dividend Yield: N/A
• Average Volume (3M): 312.36K
• Price to Earnings (P/E): 37.5
• Beta (1Y): 0.22
• Revenue Growth: 89.58%
• EPS Growth: N/A
• Country: US
• Employees: 1,599
• Sector: Healthcare
• Sector Strength: 45
• Industry: Biotechnology
• EPS (TTM): 5.18
• Shares Outstanding: 61,883,408
• 10 Day Avg. Volume: 362,888
• 30 Day Avg. Volume: 312,363
• PEG Ratio: -0.12
• Price to Book (P/B): 6.70
• Price to Sales (P/S): 16.81
• P/FCF Ratio: -243.71
• Enterprise Value/Market Cap: 0.64
• Enterprise Value/Revenue: 13.77
• Enterprise Value/Gross Profit: 20.81
• Enterprise Value/Ebitda: 49.33
• 1Y Price Target: $1,043.13
• Price Target Upside: 30.50% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 19
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 79 Outperform
• Price Target: $928.00 ▲(16.10% Upside)

Argenx Se's strong financial performance and bullish technical indicators are the primary drivers of its high stock score. The company's robust revenue growth and strategic advancements in its pipeline are significant positives. However, the high valuation and operational challenges in cash flow generation slightly temper the overall score.

Positive Factors

Strong Commercial Momentum

VYVGART's blockbuster sales demonstrate sustainable commercial traction: large, recurring revenue streams and rapid prescriber adoption create a durable foundation to fund ongoing trials, scale manufacturing and support label expansion, improving predictability of revenues over the next 2–6 months.

Balance Sheet Strength

A conservative capital structure with minimal leverage provides financial flexibility to fund R&D, manufacturing partnerships and clinical programs without near-term refinancing risk, preserving strategic optionality and resilience against short-term revenue volatility.

Broad Late‑Stage Pipeline

Multiple Phase III programs and upcoming registrational readouts diversify clinical risk and create several potential near-term product and label expansion opportunities, increasing the chance of new approvals and revenue streams and supporting long‑term growth beyond the current lead asset.

Negative Factors

Negative Free Cash Flow

Despite improved reported profitability, persistent negative free cash flow and weak cash conversion imply reliance on financing or reserves to support operations and R&D. This constraints capital allocation flexibility and must be resolved to sustain self-funded growth over coming quarters.

Pipeline Setback — TED

Discontinuing the TED Phase 3 program removes a potential indication and wastes development investment, narrowing mid‑term expansion prospects for efgartigimod. It highlights translational uncertainty across indications and can slow projected revenue diversification over the next year.

Rising Operating Expenses and Margin Pressure

Rising R&D and SG&A costs alongside a still-negative EBIT margin undermine margin sustainability. Even with strong top‑line growth, elevated operating spend limits conversion of sales into durable operating cash flow and could delay achieving consistent positive operating margins.

Argenx Se Business Overview & Revenue Model

Company Description

argenx SE, a biotechnology company, engages in the developing of various therapies for the treatment of autoimmune diseases in the United States, Japan, Europe, Middle East, Africa, and China. Its lead product candidate is efgartigimod for the treatment of patients with myasthenia gravis, immune thrombocytopenia, pemphigus vulgaris, generalized myasthenia gravis, chronic inflammatory demyelinating polyneuropathy, thyroid eye disease, bullous pemphigoid, myositis, primary sjögren's syndrome, post-covid postural orthostatic tachycardia syndrome, membranous nephropathy, lupus nephropathy, anca-associated vasculitis, and antibody mediated rejection; ENHANZE SC; Empasiprubart for multifocal motor neuropath, delayed graft function, and dermatomyositis; and ARGX-119 for congenital myasthenic syndrome and amyotrophic lateral sclerosis. The company is developing ARGX-213 targets FcRn; ARGX-121 and ARGX-220 targets immune system; ARGX-109 targets IL-6; ARGX-118 for inflammation; and ARGX-109, as well as cusatuzumab, ARGX-112, ARGX-114, and ARGX-115. It owns VYVGART; VYVGART HYTRULO; VYVDURA; ARGENX; ABDEG; NHANCE; SIMPLE ANTIBODY; and ARGENXMEDHUB. The company has strategic partnership with AbbVie S.À.R.L., Zai Lab Limited, and LEO Pharma A/S; and collaboration and license agreement with Genor Biopharma Co. Ltd, Université Catholique de Louvain, Sopartec S.A., NYU Langone Health, Leiden University Medical Center, AgomAb Therapeutics NV, Broteio Pharma B.V., VIB vzw, University of Texas, BioWa, Inc., and Shire International GmbH. It has collaboration agreement with Genmab A/S to discover, develop, and commercialize novel therapeutic antibodies with applications in immunology and oncology, as well as a strategic collaboration with IQVIA Holdings Inc. to provide safety systems and services. argenx SE was incorporated in 2008 and is based in Amsterdam, the Netherlands.

How the Company Makes Money

Argenx generates revenue through multiple streams, primarily focused on the commercialization of its therapeutic products. This includes revenue from product sales of its approved therapies, such as efgartigimod, which is marketed for the treatment of autoimmune disorders like myasthenia gravis. Additionally, the company engages in strategic partnerships and collaborations with other pharmaceutical firms, which often involve upfront payments, milestone payments upon achieving certain development or regulatory goals, and royalties on net sales of products developed under these collaborations. These partnerships not only provide financial resources but also enhance Argenx's capabilities in research and development, ultimately contributing to its overall earnings.

Argenx Se Financial Statement Overview

Summary

Argenx Se has demonstrated robust revenue growth and improved profitability, supported by a strong balance sheet with minimal leverage. However, challenges in operational efficiency and cash flow generation remain critical areas for improvement.

Income Statement

Argenx Se has shown a significant increase in total revenue from 2023 to 2024, with a revenue growth rate of 77.32%. The company has also improved its profitability, turning a net income of $804 million in 2024 from a net loss of $295 million in 2023. However, the EBIT margin remains negative, indicating ongoing operational challenges.

Balance Sheet

The company's balance sheet is strong, with a high equity ratio of 88.64% and a low debt-to-equity ratio of 0.007. This indicates financial stability and low leverage, reducing financial risk. The return on equity has improved significantly due to positive net income, which enhances shareholder value.

Cash Flow

Argenx Se has managed to improve its free cash flow position slightly, but it remains negative. The operating cash flow to net income ratio is unfavorable, suggesting inefficiencies in converting income into cash flow. However, the company has strong financing activities that continue to support its cash position.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	2.29B	2.19B	1.23B	410.75M	497.28M	41.24M
Gross Profit	1.52B	1.96B	1.11B	381.31M	497.28M	41.24M
EBITDA	640.57M	105.17M	-192.28M	-622.78M	-392.78M	-601.03M
Net Income	1.11B	833.04M	-295.05M	-709.59M	-407.63M	-608.46M
Balance Sheet
Total Assets	7.18B	6.20B	4.54B	3.13B	2.85B	2.28B
Cash, Cash Equivalents and Short-Term Investments	3.93B	3.38B	3.18B	2.19B	2.34B	2.00B
Total Debt	43.15M	39.05M	20.00M	12.43M	11.46M	9.66M
Total Liabilities	1.08B	704.24M	444.95M	320.56M	316.05M	605.36M
Stockholders Equity	6.10B	5.50B	4.10B	2.81B	2.53B	1.67B
Cash Flow
Free Cash Flow	473.52M	-151.05M	-464.14M	-966.63M	-728.25M	-403.60M
Operating Cash Flow	479.76M	-82.75M	-420.33M	-862.81M	-606.81M	-398.46M
Investing Cash Flow	-214.14M	-717.59M	308.21M	-461.18M	-347.07M	344.69M
Financing Cash Flow	313.76M	279.76M	1.34B	843.76M	1.12B	833.00M

Argenx Se Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 799.33
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ARGX, the sentiment is Negative. The current price of 799.33 is below the 20-day moving average (MA) of 829.11, below the 50-day MA of 866.59, and above the 200-day MA of 704.07, indicating a neutral trend. The MACD of -19.70 indicates Positive momentum. The RSI at 37.03 is Neutral, neither overbought nor oversold. The STOCH value of 36.90 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for ARGX.

Argenx Se Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
REGN	82 Outperform	$79.26B	18.05	15.19%	0.45%	2.89%	0.50%
INCY	81 Outperform	$20.80B	17.77	30.39%	―	18.09%	3563.21%
ARGX	79 Outperform	$49.76B	37.55	24.75%	―	89.58%	―
GMAB	76 Outperform	$21.59B	14.89	28.20%	―	24.98%	127.06%
ALNY	60 Neutral	$48.47B	1,526.04	32.73%	―	53.24%	―
BNTX	53 Neutral	$26.24B	-41.48	-2.94%	―	7.04%	-25.24%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%

Argenx Se Corporate Events

argenx Wins FDA Priority Review for VYVGART in Seronegative gMG

On January 13, 2026, argenx SE announced that the U.S. Food and Drug Administration accepted for priority review its supplemental Biologics License Application for intravenous VYVGART (efgartigimod alfa-fcab) to treat adults with acetylcholine receptor antibody seronegative generalized myasthenia gravis, a patient group with high unmet need and no approved options for certain subtypes. The filing, backed by positive Phase 3 ADAPT SERON data showing statistically significant and clinically meaningful improvements in disease activity and a safety profile consistent with prior use, sets a Prescription Drug User Fee Act target action date of May 10, 2026, positioning argenx to potentially broaden VYVGART’s label, strengthen its foothold in the gMG market, and expand its addressable patient population if approval is granted.

The most recent analyst rating on (ARGX) stock is a Hold with a $900.00 price target. To see the full list of analyst forecasts on Argenx Se stock, see the ARGX Stock Forecast page.

argenx Posts 90% Sales Surge and Maps Pivotal 2026 Pipeline, Leadership Transition

On January 12, 2026, argenx reported preliminary 2025 global product net sales of $4.15 billion, a 90% year-on-year increase driven by VYVGART, which is now used by roughly 19,000 patients worldwide, and outlined a 2026 plan centered on expanding VYVGART’s use and label, advancing its FcRn franchise, and accelerating its broader immunology pipeline. The company highlighted a pivotal year ahead with four registrational readouts in 2026, including the first Phase 3 data for its C2 antibody empasiprubart, multiple Phase 3 milestones across myasthenia gravis, ITP and rheumatology, and the planned start of additional registrational and early-stage studies that together position argenx for potential new product launches from 2027 onward; it also flagged an upcoming leadership transition, with COO Karen Massey set to become CEO and current CEO Tim Van Hauwermeiren moving to non-executive chairman, underscoring both operational momentum and a managed governance handover for investors and patients.

The most recent analyst rating on (ARGX) stock is a Buy with a $1091.00 price target. To see the full list of analyst forecasts on Argenx Se stock, see the ARGX Stock Forecast page.

Argenx Unveils CEO Succession as Co‑Founder Moves to Chair Role

On January 5, 2026, Argenx SE announced a planned leadership transition designed to support its next phase of growth, highlighted by the promotion of Chief Operating Officer Karen Massey to Chief Executive Officer and Executive Director and the move of co-founder and current CEO Tim Van Hauwermeiren to non-executive director and Chairman of the Board, succeeding long-serving chair Peter Verhaeghe, who will retire after serving since 2008. The changes, which remain subject to shareholder approval at the company’s annual general meeting on May 6, 2026, signal a continuity-focused succession that keeps Van Hauwermeiren closely involved in long-term strategy and innovation while elevating Massey, credited with accelerating the launch of flagship product VYVGART and building the company’s commercial engine, to steer execution of Argenx’s Vision 2030 and future expansion, with implications for sustained strategic stability and stakeholder confidence in its growth trajectory.

The most recent analyst rating on (ARGX) stock is a Hold with a $858.00 price target. To see the full list of analyst forecasts on Argenx Se stock, see the ARGX Stock Forecast page.

argenx Discontinues Phase 3 UplighTED Studies for Thyroid Eye Disease

On December 15, 2025, argenx SE announced the discontinuation of its Phase 3 UplighTED studies evaluating efgartigimod SC in adults with moderate to severe thyroid eye disease (TED) due to futility, as recommended by an Independent Data Monitoring Committee. Despite the trials not meeting desired outcomes, efgartigimod demonstrated a favorable safety profile. The company plans to conduct a comprehensive analysis of the data to gain insights for future research in TED. This decision reflects argenx’s commitment to responsible resource management in its clinical development programs.

The most recent analyst rating on (ARGX) stock is a Buy with a $1316.00 price target. To see the full list of analyst forecasts on Argenx Se stock, see the ARGX Stock Forecast page.

argenx SE Shareholders Approve Remuneration Policy at Extraordinary Meeting

On November 18, 2025, argenx SE announced the approval of its remuneration policy during the Extraordinary General Meeting of shareholders. The policy was approved by a 95.67% majority, with 91.1% of share capital represented, highlighting strong shareholder support and potentially impacting the company’s governance and stakeholder relations.

The most recent analyst rating on (ARGX) stock is a Buy with a $1124.00 price target. To see the full list of analyst forecasts on Argenx Se stock, see the ARGX Stock Forecast page.

Argenx SE Reports Strong Q3 2025 Financial Results and Strategic Advances

On October 30, 2025, Argenx SE reported its third quarter financial results, showcasing a significant increase in global product net sales to $1.13 billion, driven by strong demand for VYVGART. The company is on track to submit a supplemental Biologics License Application for VYVGART in seronegative gMG subtypes by year-end and anticipates multiple registrational study readouts in 2026. Argenx is also expanding its manufacturing capabilities in partnership with FUJIFILM, enhancing its supply chain to support future growth. These developments underscore Argenx’s strategic focus on innovation and its Vision 2030 goals, aiming to treat 50,000 patients globally and secure 10 labeled indications across its medicines.

The most recent analyst rating on (ARGX) stock is a Buy with a $943.00 price target. To see the full list of analyst forecasts on Argenx Se stock, see the ARGX Stock Forecast page.

Argenx SE Highlights VYVGART’s Efficacy in Treating Myasthenia Gravis

On October 29, 2025, Argenx SE presented new data at the AANEM and MGFA meetings highlighting the efficacy and safety of VYVGART for gMG patients. The data demonstrated significant improvements in patient outcomes, including reduced steroid use and sustained minimal symptom expression, positioning VYVGART as a potentially transformative treatment for gMG across various patient subtypes. These findings underscore VYVGART’s potential to redefine treatment standards and improve quality of life for patients, with plans to seek label expansion to include additional patient subtypes.

The most recent analyst rating on (ARGX) stock is a Buy with a $943.00 price target. To see the full list of analyst forecasts on Argenx Se stock, see the ARGX Stock Forecast page.

Argenx SE Showcases Immunology Innovations at 2025 AANEM Meeting

On October 15, 2025, Argenx SE announced its participation in the 2025 AANEM Annual Meeting and MGFA Scientific Session, where it will present pivotal data on VYVGART and empasiprubart. The company highlighted the potential of VYVGART in treating myasthenia gravis and other neuromuscular diseases, showcasing results from various studies that demonstrate its efficacy and safety. This presentation underscores Argenx’s commitment to advancing innovative therapies and improving patient outcomes in the field of autoimmune and neuromuscular diseases.

The most recent analyst rating on (ARGX) stock is a Buy with a $800.00 price target. To see the full list of analyst forecasts on Argenx Se stock, see the ARGX Stock Forecast page.