Update shared on25 Sep 2025
Fair value Increased 1.70%argenx’s consensus price target has been revised upward to €724.38 as analysts raise growth forecasts following strong Phase 3 Vyvgart data and expanding market opportunity, while improved revenue projections and robust pipeline momentum continue to offset valuation concerns.
Analyst Commentary
- Bullish analysts are raising price targets on Argenx following positive topline Phase 3 data for Vyvgart in seronegative myasthenia gravis and successful primary endpoint achievement across patient subtypes, which expands the addressable market.
- Multiple upcoming Phase 3 readouts for efgartimod and planned supplemental Biologics License Application (sBLA) filings over the next 12-24 months are boosting long-term growth expectations and confidence in the pipeline.
- Increasing peak sales estimates for Vyvgart in myasthenia gravis, with models projecting up to $6.4B in gMG by 2034 and an expanded role for new indications, are materially raising valuations.
- Analysts cite accelerating Vyvgart uptake, global expansion, and additional pipeline opportunities as drivers of potential quadrupling of sales and strong operating cash flow by decade's end.
- Bearish analysts are cautious on valuation grounds after a >40% stock rally, as well as ongoing attention to FDA-adverse event safety signals for Vyvgart in chronic inflammatory demyelinating polyneuropathy, though most view current regulatory risks as manageable.
What's in the News
- FUJIFILM Biotechnologies expanded its global partnership with argenx to manufacture efgartigimod drug substance at a new North Carolina facility, increasing supply chain agility and production capacity for approved uses in generalized myasthenia gravis (gMG) and CIDP.
- Positive topline results announced for VYVGART (efgartigimod) in AChR-Ab seronegative gMG patients, supporting plans to expand the label in the U.S. to include all gMG subtypes.
- argenx entered a strategic collaboration with Unnatural Products Inc. to develop oral macrocyclic peptide drugs targeting previously "undruggable" disease targets, with potential milestone payments up to $1.5 billion and an equity investment in UNP.
- ARGX-119, a first-in-class agonist antibody to MuSK, demonstrated favorable safety and tolerability in Phase 1b and will advance to a registrational study for congenital myasthenic syndromes (CMS).
Valuation Changes
Summary of Valuation Changes for argenx
- The Consensus Analyst Price Target remained effectively unchanged, moving only marginally from €712.24 to €724.38.
- The Future P/E for argenx has significantly fallen from 23.47x to 20.29x.
- The Consensus Revenue Growth forecasts for argenx has risen slightly from 30.6% per annum to 31.7% per annum.
Disclaimer
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