argenx (ARGX) Stock Forecast & Price Target

Argenx has demonstrated strong financial performance, with revenue reaching $790 million in Q1 and $949 million in Q2 of 2025, representing year-over-year increases of 98% and 97%, respectively, largely driven by ongoing uptake in generalized myasthenia gravis (gMG) and accelerated adoption of the pre-filled syringe format. The company anticipates substantial growth from expanding its product labels, targeting seronegative MG, pediatric MG, and ocular MG, as well as utilizing a growing prescriber base, which saw 1,000 prescribers for the pre-filled syringe in Q2, including 150 new to Vyvgart. Additionally, positive clinical trial results for potential new therapies, such as ARGX-119, support Argenx's strategic focus on innovation and diversification within its rare autoimmune disease pipeline, fostering optimism for future revenue streams.

Argenx faces significant risks that could adversely impact its financial outlook, including the potential for lower-than-anticipated growth of Vyvgart sales and the possibility of competition emerging in the biopharmaceutical space. The company is also exposed to macroeconomic factors such as foreign exchange fluctuations, inflation, and other shipping and regulatory challenges that could hinder its performance. Additionally, the ongoing clinical trials for its lead products, including efgartigimod and empasiprubart, carry the risk of unforeseen safety signals, which could result in setbacks to its research and development efforts.