argenx (ARGX) Stock Forecast & Price Target

Argenx has demonstrated significant revenue growth, with Q1 2025 revenues reaching $790 million and Q2 revenues at $949 million, reflecting year-over-year increases of 98% and 97%, respectively, primarily attributed to the expanding use of Vyvgart in generalized myasthenia gravis (gMG) and recent traction in chronic inflammatory demyelinating polyneuropathy (CIDP). The company’s adoption of the pre-filled syringe format has led to an accelerated growth in prescribers, with approximately 1,000 prescribers reported in Q2, of which 150 were new to Vyvgart, indicating potential for further expansion in its prescriber base and improved patient accessibility to treatment. Additionally, promising results from the Phase Ib DOK7-CMS study support the advancement of ARGX-119 toward a registrational Phase III trial, highlighting the company's commitment to innovation in addressing rare autoimmune diseases and potential label expansions.

Argenx faces significant risks that may hinder its financial performance, including potential lower-than-expected growth in sales of its lead product, Vyvgart, and the possibility of unforeseen safety concerns arising from ongoing trials for both efgartigimod and empasiprubart. Furthermore, the emergence of new competitors and various macroeconomic challenges, such as inflation and foreign exchange fluctuations, pose additional threats to the company's future revenue streams. The company's reliance on achieving a 24% penetration of Vyvgart's target population by the end of 2025 adds to the uncertainty surrounding its commercial success in treating chronic inflammatory demyelinating polyneuropathy and other related conditions.