ARGX Stock Analysis: argenx | NASDAQ

Biotechnology | NASDAQ, USA | Market Cap: 58.386m USD | 12M Return: 3.2% | US04016X1019 | Charts, Fundamentals & Technical Analysis

Autoimmune Therapies, FcRn Antagonists, Antibody Treatments, Neuromuscular Drugs
Total Rating 67
Safety 66
Buy Signal -0.69
Biotechnology
Industry Rotation: -19.7
Market Cap: 58.4B
Avg Turnover: 290M
Risk 3d forecast
Volatility48.6%
VaR 5th Pctl7.46%
VaR vs Median-5.51%
Reward TTM
Sharpe Ratio0.13
Rel. Str. IBD38.5
Rel. Str. Peer Group42.3
Character TTM
Beta0.027
Beta Downside-0.058
Hurst Exponent0.543
Drawdowns 3y
Max DD32.21%
CAGR/Max DD0.59
CAGR/Mean DD1.86
EPS (Earnings per Share) EPS (Earnings per Share) of ARGX over the last years for every Quarter: "2021-09": -2.53, "2021-12": -5.06, "2022-03": -4.36, "2022-06": -3.81, "2022-09": -4.26, "2022-12": -0.7, "2023-03": -0.52, "2023-06": -1.69, "2023-09": -1.25, "2023-12": -1.68, "2024-03": -1.04, "2024-06": 0.45, "2024-09": 1.39, "2024-12": 0.7125, "2025-03": 2.58, "2025-06": 3.74, "2025-09": 5.18, "2025-12": 8.02, "2026-03": 5.52, "2026-06": 7.32,
Last SUE: 1.36
Qual. Beats: 1
Revenue Revenue of ARGX over the last years for every Quarter: 2021-09: 0.857, 2021-12: 26.808247, 2022-03: 23.412, 2022-06: 111.355, 2022-09: 137.981, 2022-12: 312.687913, 2023-03: -257.981, 2023-06: 510.915, 2023-09: 329.789, 2023-12: 757.679, 2024-03: 401.001, 2024-06: 901.941, 2024-09: 573.236, 2024-12: 1346.264, 2025-03: 790.683, 2025-06: 947.961, 2025-09: 1126.961, 2025-12: 3205.521, 2026-03: 1298, 2026-06: 2815.766309,
Rev. CAGR: 103.24%
Rev. Trend: 97.8%
Last SUE: 4.00
Qual. Beats: 5

Warnings

Below Avwap Earnings
Below Sma 200d

Tailwinds

No distinct edge detected

Seasonality 9.4 years of data

Jan -2.0% 16
Feb -0.3% 16
Mar -6.0% 14
Apr +1.7% 16
May -0.4% 8
Jun +4.1% 22
Jul -0.3% 5
Aug +0.9% 12
Sep -5.5% 31
Oct +1.3% 2
Nov +4.7% 13
Dec -3.9% 19

How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.

Description: ARGX argenx

argenx SE is a commercial-stage biopharmaceutical company headquartered in Amsterdam, the Netherlands, focused on developing therapies for autoimmune diseases. Operating in the biotechnology sub-industry within the Health Care sector, the company markets its products in the United States, Japan, China, the Netherlands, and other international markets.

The companys commercial portfolio includes VYVGART and VYVGART HYTRULO, which are approved for conditions such as generalized myasthenia gravis (gMG), immune thrombocytopenia (ITP), and chronic inflammatory demyelinating polyneuropathy (CIDP). Its business model relies on a deep pipeline of antibody-based therapies, with lead candidate efgartigimod being explored across multiple autoimmune indications, alongside other candidates like empasiprubart and adimanebart.

argenx complements its internal R&D with strategic partnerships and license agreements, including collaborations with Zai Lab for efgartigimod commercialization, Halozyme Therapeutics for its ENHANZE technology, OncoVerity for cusatuzumab, and AbbVie for ARGX-115. The company was incorporated in 2008 and trades on NASDAQ as an ADR under the ticker ARGX, having gone public in 2017.

Headlines to Watch Out For
  • VYVGART franchise sales accelerate across gMG, ITP, CIDP indications
  • Efgartigimod label expansion into new autoimmune diseases drives revenue growth
  • FcRn competitor launches from J&J and UCB pressure market share
Piotroski VR-10 (Strict) 6.0
Net Income: 2.60b TTM > 0 and > 6% of Revenue
FCF/TA: 0.08 > 0.02 and ΔFCF/TA 10.52 > 1.0
NWC/Revenue: 76.87% < 20% (prev 130.9%; Δ -54.01% < -1%)
CFO/TA 0.08 > 3% & CFO 850.5m > Net Income 2.60b
Net Debt (-5.14b) to EBITDA (2.68b): -1.91 < 3
Current Ratio: 5.12 > 1.5 & < 3
Outstanding Shares: last quarter (64.4m) vs 12m ago 8.43% < -2%
Gross Margin: 89.94% > 18% (prev 74.97%; Δ 14.97% > 0.5%)
Asset Turnover: 98.17% > 50% (prev 50.98%; Δ 47.19% > 0%)
Interest Coverage Ratio: 531.6 > 6 (EBIT TTM 2.66b / Interest Expense TTM 4.99m)
Altman Z'' 10.00
A: 0.65 (Total Current Assets 8.07b - Total Current Liabilities 1.57b) / Total Assets 10.0b
B: 0.06 (Retained Earnings 558.0m / Total Assets 10.0b)
C: 0.31 (EBIT TTM 2.66b / Avg Total Assets 8.60b)
D: 5.21 (Book Value of Equity 8.42b / Total Liabilities 1.61b)
Altman-Z'' = 11.97 = AAA
Beneish M -2.43
DSRI: 0.70 (Receivables 1.94b/1.20b, Revenue 8.45b/3.66b)
GMI: 0.83 (GM 74.97% / 89.94%)
AQI: 1.05 (AQ_t 0.19 / AQ_t-1 0.18)
SGI: 2.31 (Revenue 8.45b / 3.66b)
TATA: 0.17 (NI 2.60b - CFO 850.5m) / TA 10.0b)
Beneish M = -2.43 (Cap -4..+1) = BBB
What is the price of ARGX shares?

As of October 12, 2026, the stock is trading at USD 825.03 with a total of 512,220 shares traded. Over the past week, the price has changed by -10.25%, over one month by -16.19%, over three months by -5.85% and over the past year by +3.19%.

Current recommended Stop Loss: 760.20 (which is 7.9% or 2 ATR below the current price).

Is ARGX a buy, sell or hold?

argenx has received a consensus analysts rating of 4.45. Therefore, it is recommended to buy ARGX.

  • StrongBuy: 7
  • Buy: 2
  • Hold: 2
  • Sell: 0
  • StrongSell: 0

What are the forecasts/targets for the ARGX price?
Analysts Target Price 1180.3 43.1%
argenx (ARGX) - Fundamental Data Overview as of 09 October 2026
Market Cap USD = 58.4b (58.4b USD * 1.0 USD.USD)
P/E Trailing = 35.3826
P/E Forward = 25.9067
P/S = 10.9842
P/B = 7.03
P/EG = 1.1521
Revenue TTM = 8.45b USD
EBIT TTM = 2.66b USD
EBITDA TTM = 2.68b USD
Long Term Debt = 36.0m USD (estimated: total debt 47.0m - short term 11.0m)
Short Term Debt = 11.0m USD (from shortTermDebt, last quarter)
Debt = 47.0m USD (from shortLongTermDebtTotal, last quarter) (leases 47.0m already included)
Net Debt = -5.14b USD (calculated: Debt 47.0m - CCE 5.18b)
Enterprise Value = 53.2b USD (58.4b + Debt 47.0m - CCE 5.18b)
Interest Coverage Ratio = 531.6 (Ebit TTM 2.66b / Interest Expense TTM 4.99m)
EV/FCF = 63.07x (Enterprise Value 53.2b / FCF TTM 844.3m)
FCF Yield = 1.59% (FCF TTM 844.3m / Enterprise Value 53.2b)
FCF Margin = 10.00% (FCF TTM 844.3m / Revenue TTM 8.45b)
Net Margin = 30.73% (Net Income TTM 2.60b / Revenue TTM 8.45b)
Gross Margin = 89.94% ((Revenue TTM 8.45b - Cost of Revenue TTM 849.6m) / Revenue TTM)
Gross Margin QoQ = 90.08% (prev 90.68%)
Tobins Q-Ratio = 5.31 (Enterprise Value 53.2b / Total Assets 10.0b)
Interest Expense / Debt = 10.63% (Interest Expense 4.99m / Debt 47.0m)
Taxrate = 1.13% (31.1m / 2.76b)
NOPAT = 2.63b (EBIT 2.66b * (1 - 1.13%))
Current Ratio = 5.12 (Total Current Assets 8.07b / Total Current Liabilities 1.57b)
Debt / Equity = 0.01 (Debt 47.0m / totalStockholderEquity, last quarter 8.42b)
Debt / EBITDA = -1.91 (Net Debt -5.14b / EBITDA 2.68b)
Debt / FCF = -6.08 (Net Debt -5.14b / FCF TTM 844.3m)
Total Stockholder Equity = 6.83b (last 4 quarters mean from totalStockholderEquity)
RoA = 30.17% (Net Income 2.60b / Total Assets 10.0b)
RoE = 37.99% (Net Income TTM 2.60b / Total Stockholder Equity 6.83b)
RoCE = 38.66% (EBIT 2.66b / Capital Employed (Equity 6.83b + L.T.Debt 36.0m))
RoIC = 32.63% (NOPAT 2.63b / Invested Capital 8.05b)
WACC = 6.08% (E(58.4b)/V(58.4b) * Re(6.08%) + D(47.0m)/V(58.4b) * Rd(10.63%) * (1-Tc(0.01)))
Discount Rate = 6.08% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 42.77 | Cagr: 3.73%
[DCF] Terminal Value 75.44% ; FCFF base≈844.3m ; Y1≈847.8m ; Y5≈898.1m
[DCF] Fair Price = 303.8 (EV 14.0b - Net Debt -5.14b = Equity 19.1b / Shares 62.9m; r=8.35% [WACC [floored]]; 5y FCF grow 0.0% → 2.50% )
EPS Correlation: N/A | EPS CAGR: N/A | SUE: 1.36 | # QB: 1
Revenue Correlation: 97.82 | Revenue CAGR: 103.2% | SUE: 4.0 | # QB: 5
EPS current Quarter (2026-09-30): EPS=-9.78 | Chg30d=+64.88% | Revisions=+0% | Analysts=2
EPS current Year (2026-12-31): EPS=18.68 | Chg30d=+1.10% | Revisions=+0% | GrowthEPS=-4.6% | GrowthRev=+47.5%
EPS next Year (2027-12-31): EPS=34.72 | Chg30d=+0.61% | Revisions=+0% | GrowthEPS=+85.9% | GrowthRev=+21.6%
[Analyst] Revisions Ratio: +0% (up=0, down=0)