argenx (ARGX) Stock Forecast & Price Target

Argenx has demonstrated robust revenue growth, reporting $790 million in Q1 2025 and $949 million in Q2 2025, which reflects impressive year-over-year increases of 98% and 97%, respectively, driven by rising adoption of Vyvgart, particularly in generalized myasthenia gravis (gMG) and chronic inflammatory demyelinating polyneuropathy (CIDP). The introduction of the pre-filled syringe format has significantly expanded the prescriber base, with around 1,000 PFS prescribers, including 150 new to Vyvgart, which supports the company's strategy for further market penetration and increased patient access. Additionally, ongoing clinical trials show promising outcomes, positioning Argenx for future growth through potential label expansions into seronegative and pediatric MG, as well as ocular MG, while also advancing the development of ARGX-119 towards a Phase III trial.

The analysis of Argenx's stock presents several fundamental concerns that contribute to a negative outlook. Key risks include the potential for lower-than-anticipated sales growth of the company's lead product, Vyvgart, as well as the possibility of unforeseen safety signals arising from ongoing clinical trials, which could negatively impact investor confidence. Additionally, external factors such as macroeconomic conditions—including foreign exchange fluctuations, inflation, and tariffs—combined with the threat of emerging competitors and other research and development setbacks, could hinder the company's financial performance and operational trajectory.