argenx SE

ARGX · NYSE

$873.71−$2.06 (−0.23%)TodayMarket closed · Oct 23, 7:55 PM ET

Prev close $875.76

ARGX analyst rating

BuyConsensus of 21 analysts over the last 12 months. 90% rate it a buy.

Strong buy0
Buy19
Hold2
Underperform0
Sell0

12-month price target · 19 analysts

Average $1,157.48 (+32.5% upside)

Low: $834.27
Now: $873.71
High: $1,425.71

Upgrades and downgrades

The latest rating actions, newest first

ARGX analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
Morgan Stanley	Oct 23, 2026	Maintains	Overweight	$1,140.00 → $1,190.00	54%
Guggenheim	Oct 23, 2026	Maintains	Buy	$1,185.00 → $1,120.00	49%
Wells Fargo	Oct 23, 2026	Maintains	Overweight	$1,356.00 → $1,336.00	56%
Evercore ISI Group	Oct 23, 2026	Maintains	Outperform	$1,078.00 → $1,090.00	44%
Baird	Oct 23, 2026	Maintains	Neutral	$823.00 → $861.00	38%
RBC Capital	Oct 20, 2026	Maintains	Outperform	$1,100.00 → $1,025.00	45%
Wells Fargo	Oct 14, 2026	Maintains	Overweight	$1,355.00 → $1,356.00	56%
Oppenheimer	Oct 12, 2026	Maintains	Outperform	$1,100.00 → $1,038.00	46%
Evercore ISI Group	Oct 9, 2026	Maintains	Outperform	$1,175.00 → $1,078.00	44%
Baird	Oct 9, 2026	Maintains	Neutral	$932.00 → $823.00	38%

The case for and against

Updated Oct 21, 2026

Bull case

argenx is well positioned because Vyvgart and Vyvgart Hytrulo have already proven regulatory traction, while the FDA approval in 2024 for CIDP expands the commercial base into another rare neuromuscular disease with clear unmet need. The excerpts also point to a strong pipeline, with positive Phase 3 ALKIVIA results and management’s expectation that autoimmune myositis subtypes could each become blockbuster opportunities, supported by physician surveys showing expected efgartigimod use of ~26% in DM and ~24% in IMNM within the first 12 months. Fundamentally, the investment case is strengthened by a steroid- and IVIG-sparing profile, broad expansion potential across ITP, thyroid eye disease, and Sjogren’s disease, and validation of the company’s innovation engine beyond its lead asset.

Bear case

argenx is exposed to significant fundamental risk because its valuation depends heavily on efgartigimod and ARGX-117, both of which could still suffer clinical, regulatory, or commercial setbacks despite a generally consistent safety profile. Even with FDA approvals in December 2021, 2022, and 2024 for Vyvgart and Vyvgart Hytrulo, the company remains concentrated in a competitive autoimmune market where larger rivals may have greater R&D and commercial resources, limiting differentiation and uptake. Financially, its funds should cover lead programs, but the need for possible additional equity financing or uncertain partnership terms creates dilution risk for shareholders, reinforcing a negative outlook.

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