argenx Valuation

Is ARGX undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

2/6

Valuation Score 2/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of ARGX when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: ARGX (€337.3) is trading below our estimate of fair value (€785.13)

Significantly Below Fair Value: ARGX is trading below fair value by more than 20%.


Key Valuation Metric

Which metric is best to use when looking at relative valuation for ARGX?

Other financial metrics that can be useful for relative valuation.

ARGX key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue14.4x
Enterprise Value/EBITDA-57.7x
PEG Ration/a

Price to Sales Ratio vs Peers

How does ARGX's PS Ratio compare to its peers?

The above table shows the PS ratio for ARGX vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average5.3x
MDXH MDxHealth
1.4x15.5%€82.4m
UCB UCB
4.4x8.9%€23.0b
ALNY Alnylam Pharmaceuticals
10x20.9%US$18.3b
BGNE BeiGene
5.5x19.4%US$13.5b
ARGX argenx
16.8x24.7%€20.0b

Price-To-Sales vs Peers: ARGX is expensive based on its Price-To-Sales Ratio (16.8x) compared to the peer average (5.3x).


Price to Earnings Ratio vs Industry

How does ARGX's PE Ratio compare vs other companies in the European Biotechs Industry?

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
Industry Avg.n/a31.7%
n/an/an/a
No. of CompaniesPS048121620

Fetching data

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
Industry Avg.n/a31.7%
n/an/an/a
No more companies

Price-To-Sales vs Industry: ARGX is expensive based on its Price-To-Sales Ratio (16.8x) compared to the European Biotechs industry average (11x).


Price to Sales Ratio vs Fair Ratio

What is ARGX's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

ARGX PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio16.8x
Fair PS Ratio5.1x

Price-To-Sales vs Fair Ratio: ARGX is expensive based on its Price-To-Sales Ratio (16.8x) compared to the estimated Fair Price-To-Sales Ratio (5.1x).


Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst ARGX forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€337.30
€439.38
+30.3%
22.8%€632.00€165.00n/a15
Apr ’25€366.10
€439.25
+20.0%
22.8%€632.00€165.00n/a15
Mar ’25€359.30
€437.15
+21.7%
20.4%€632.00€223.00n/a15
Feb ’25€350.90
€445.40
+26.9%
21.7%€632.00€223.00n/a16
Jan ’25€343.50
€447.81
+30.4%
21.3%€621.00€223.00n/a15
Dec ’24€417.30
€517.01
+23.9%
17.3%€621.00€223.00n/a15
Nov ’24€464.20
€538.95
+16.1%
17.2%€619.00€223.00n/a14
Oct ’24€460.60
€527.38
+14.5%
17.9%€619.00€223.00n/a13
Sep ’24€478.20
€514.66
+7.6%
18.5%€619.00€223.00n/a12
Aug ’24€462.30
€497.85
+7.7%
18.6%€600.00€223.00n/a12
Jul ’24€355.40
€434.03
+22.1%
18.5%€564.00€223.00n/a11
Jun ’24€365.70
€446.44
+22.1%
13.7%€564.00€320.00n/a10
May ’24€348.70
€441.63
+26.6%
12.4%€500.00€320.00n/a8
Apr ’24€340.70
€443.29
+30.1%
13.1%€500.00€320.00€366.107
Mar ’24€348.40
€448.98
+28.9%
11.6%€500.00€320.00€359.309
Feb ’24€344.90
€447.63
+29.8%
11.7%€500.00€320.00€350.909
Jan ’24€348.30
€452.59
+29.9%
4.2%€480.00€425.00€343.508
Dec ’23€387.00
€440.34
+13.8%
6.6%€480.00€400.00€417.308
Nov ’23€393.30
€424.09
+7.8%
9.7%€479.70€340.00€464.208
Oct ’23€368.50
€424.09
+15.1%
9.7%€479.70€340.00€460.608
Sep ’23€372.20
€407.39
+9.5%
11.9%€479.70€340.00€478.207
Aug ’23€352.70
€403.25
+14.3%
11.2%€499.47€340.00€462.308
Jul ’23€362.70
€357.68
-1.4%
6.4%€400.00€320.00€355.409
Jun ’23€289.40
€348.81
+20.5%
7.3%€382.10€302.00€365.709
May ’23€273.90
€332.36
+21.3%
11.5%€382.10€250.00€348.7010
Apr ’23€290.30
€332.36
+14.5%
11.5%€382.10€250.00€340.7010

Analyst Forecast: Target price is more than 20% higher than the current share price, but analysts are not within a statistically confident range of agreement.


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