argenx (ARGX) Stock Forecast & Price Target

Argenx has demonstrated significant topline growth, achieving revenues of $790 million in Q1 2025 and $949 million in Q2 2025, reflecting a year-over-year increase of 98% and 97%, respectively, primarily driven by the uptake in generalized myasthenia gravis (gMG) and chronic inflammatory demyelinating polyneuropathy (CIDP) treatments. The adoption of the pre-filled syringe format has notably expanded the prescriber base, with approximately 1,000 prescribers reported and 150 being new to Vyvgart, further supporting the company’s prospects for growth. Additionally, ongoing positive clinical results from the Phase Ib DOK7-CMS study of ARGX-119, which showed meaningful improvements in key patient metrics, bolster the company's pipeline and highlight its potential for future label expansions in various indications.

Argenx faces significant risks that may hinder the growth potential of its lead product, Vyvgart, including lower-than-expected sales growth, potential safety concerns from ongoing trials, and increased competition within the biopharmaceutical landscape. Macroeconomic factors such as inflation, foreign exchange fluctuations, and other operational challenges present additional uncertainty that could impact the company's financial stability and market position. Furthermore, the company's pipeline developments for other rare diseases may not yield sufficient returns to offset these risks, contributing to a negative outlook for its stock.