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ARGX · NASDAQ · Biotechnology

argenx (ADR)

Develops antibody medicines for severe autoimmune diseases around the VYVGART franchise.

$1,023.21

After-hours close−0.20 (−0.02%)

At close$1,023.41(−3.35%)

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Profile

argenx SEARGXHealth Care

Develops and commercializes antibody medicines for severe autoimmune diseases, centered on VYVGART. The same efgartigimod medicine spans three approved indications, while academic co-creation and in-house antibody engineering feed additional candidates.

Develops antibody medicines for severe autoimmune diseases through the VYVGART franchise and an earlier-stage pipeline. VYVGART and VYVGART HYTRULO use efgartigimod, an FcRn blocker approved across generalized myasthenia gravis, chronic inflammatory demyelinating polyneuropathy, and immune thrombocytopenia in Japan.

The business has expanded from European research roots into a global commercial immunology operation, with launches in the United States, Japan, and Europe. Its Immunology Innovation Program pairs academic disease biologists with in-house antibody engineers, supported by the SIMPLE ANTIBODY discovery platform and Fc-engineering technologies.

Commercial performance remains anchored in efgartigimod. Additional growth depends on successful clinical and regulatory expansion into new indications and on advancing candidates such as empasiprubart; prior studies have produced both successful evidence and missed endpoints.

Company facts

CEOKaren Massey

ListedMay 18, 2017

ExchangeNASDAQ

HeadquartersAmsterdam, Netherlands

CountryNetherlands

Employees1,863

CIK0001697862

ISINUS04016X1019

Key statistics

Market cap$63.63B

EPS (ttm)$27.41

P/E (ttm)37.33

ROE21.7%

P/B7.66

P/S12.44

Dividend yield—

Beta0.32vs XLV 0.57

Year to date +21.8% · Average volume (30d) 304.4K

Analysts

Price target, next 12 months$1,167.50+14.1%Median of 36 analysts · vs the Aug 28 close

ConsensusBuy31 of 36 analysts rate it buy or better

Ratings

Strong buyBuyHoldSellStrong sell

Target range

Last close $1,023.21

High$1,415.00+38.3%

Median$1,167.50+14.1%

Low$932.00−8.9%

12 months agoNowIn 12 months

Latest analyst notes

Date	Firm	Action	Prior rating	Rating	Prior target	Target
Aug 26, 2026	Wells Fargo	Reiterate		Overweight	$1,350	$1,415
Aug 26, 2026	UBS	Upgrade	Neutral	Buy	$910	$1,400
Aug 24, 2026	Deutsche Bank	Downgrade	Buy	Hold
Aug 18, 2026	Morgan Stanley	Reiterate		Overweight	$1,200	$1,230
Aug 18, 2026	Wedbush	Reiterate		Outperform	$1,050	$1,150

Earnings

EPS

Estimate$6.27

Reported$7.32+16.7%

Revenue

Estimate$1.63B

Reported$2.82B+72.7%

History

Report date	EPS est	EPS	Surprise	Revenue est	Revenue	Surprise	Next session
Jul 23, 2026Q2 FY26	$6.27	$7.32	+16.7%	$1.63B	$2.82B	+72.7%	−0.69%
May 7, 2026	$6.08	$5.90	−3.0%	$1.44B	$2.41B	+66.7%	−0.65%
Oct 30, 2025	$4.37	$5.18	+18.5%	$1.28B	$948.0M	−25.7%	−0.23%
May 8, 2025Q1 FY25	$0.98	$2.58	+163.3%	$861.8M	$1.35B	+56.2%	−3.42%

View details

Financial highlights

	Q3 FY24	Q4 FY24	Q1 FY25	Q2 FY25	Q4 FY25	Q2 FY26
Revenue	$573.2M	$1.35B	$790.7M	$948.0M	$3.21B	$2.82B
Gross profit	$514.2M	$681.4M	$709.9M	$837.2M	$2.87B	$2.54B
Operating income	$14.2M	$117.2M	$141.2M	$203.8M	$850.8M	$846.8M
Net income	$91.4M	$865.6M	$169.5M	$245.4M	$1.05B	$838.8M
Diluted EPS	$1.39	$2.58	$2.58	$6.37	$13.22	$13.02
Gross margin	89.7%	50.6%	89.8%	88.3%	89.4%	90.1%
Operating margin	2.5%	8.7%	17.9%	21.5%	26.5%	30.1%

Fiscal years (4-quarter sums)FY23 $1.30B · FY24 $3.22B

Revenue by geography · FY25

United States$3.53B · 85%

Rest Of The World$342.6M · 8%

Japan$206.8M · 5%

China$67.9M · 2%

Balance sheet, Jun 30, 2026Cash & short-term investments $5.18B · Total debt $47.0M · Total assets $10.03B · Shareholders' equity $8.42B

Dividends

No dividends on record.

Ownership

Institutions 45.43%Insiders —

Shares outstanding 62.19M · Float —

Top shareholders13F · 13D/G · Form 4

Holder	Shares	% outstanding	Form	Filed
FMR LLC	5.23M	8.41%	13F	Aug 13, 2026
T. Rowe Price Associates, Inc.	3.65M	6.00%	13G	Nov 14, 2025
Price T Rowe Associates Inc /MD/	2.68M	4.31%	13F	Aug 14, 2026
Jupiter Topco LLC	2.47M	3.98%	13F	Aug 14, 2026
Capital World Investors	2.20M	3.54%	13F	Aug 12, 2026

Insider tradesForm 4

Nothing filed in the last 12 months.