10 Wall Street Analysts Think Argenx Stock Is Headed to At Least $1,200 -- Is the Stock a Buy Now?

With a market cap hovering near $60 billion, Argenx SE (NASDAQ: ARGX) is no longer a new kid on the block in the biopharmaceutical world. However, the drugmaker still has a long way to go before becoming one of the largest healthcare companies.

Quite a few people on Wall Street believe that Argenx will make some headway on that goal in the near future, though. While the biotech stock was priced at roughly $919 as of the market close on Friday, Oct. 2, 2026, 10 analysts predict that it's headed to at least $1,200 over the next 12 months.

Image source: Getty Images.

Wall Street's take on Argenx

Two analysts are especially bullish about Argenx. Wells Fargo (NYSE: WFC) and UBS (NYSE: UBS) set 12-month price targets of $1,415 and $1,400, respectively, for the stock, reflecting potential gains of more than 50%.

Another two analysts are only slightly less upbeat. TD Cowen (NYSE: TD) thinks Argenx can climb to $1,353, while Citi (NYSE: C) expects the stock to rise to $1,301.

Six others also have price targets of between $1,200 and $1,300: Citizens JMP (NYSE: CFG), H.C. Wainwright, Jefferies (NYSE: JEF), Piper Sandler (NYSE: PIPR), Morgan Stanley (NYSE: MS), and Stifel Nicolaus (NYSE: SF).

Granted, some analysts aren't as enthusiastic about Argenx. Still, the average price target for the stock is around $1,182, which represents potential upside of roughly 29%. Of the 21 analysts who have rated Argenx in the past three months, all but one rated it a "buy." The sole outlier recommending holding the stock.

What's behind the optimism?

It shouldn't be surprising that most analysts are optimistic about Argenx. The company delivered $1.5 billion in global product net sales in its latest quarter, up 60% year over year and 17% quarter over quarter.

Vyvgart and Vyvgart Hytrulo are driving Argenx's growth. Both drugs are approved in the U.S. for the treatment of generalized myasthenia gravis (gMG) and chronic inflammatory demyelinating polyneuropathy (CIDP), autoimmune diseases that affect different parts of the nervous system. Vyvgart is also approved in Japan for the treatment of primary immune thrombocytopenia (ITP).

More approvals for other autoimmune diseases could be on the way. In August 2026, Argenx announced positive results from a late-stage study evaluating Vyvgart Hytrulo for the treatment of adults with autoimmune myositis. The company expects to report data from two other late-stage studies next year, one targeting primary ITP and another targeting Sjogren's disease.

Argenx isn't a two-trick pony, though. Its pipeline also features empasiprubart, which is being evaluated in registrational clinical trials for the treatment of multifocal motor neuropathy (MMN) and CIDP. The company is testing adimanebart as a treatment for congenital myasthenic syndromes (CMS) and spinal muscular atrophy. Argenx recently completed its acquisition of Forte Biosciences, adding promising experimental autoimmune disease therapy FB102 to its quiver.

Is Argenx stock a buy?

Wall Street overwhelmingly views Argenx stock as a great stock to buy right now. But are the majority of analysts right? I think so.

It's important not to ignore the potential challenges for the company, though. Argenx's success hinges on positive results from its multiple ongoing Phase 3 clinical studies. Any disappointments from those trials could cause the stock to decline. More than one clinical setback could send Argenx's shares spiraling downward.

Argenx also faces a headwind in China. Net product sales in the country plunged 62% year over year in the second quarter of 2026. Granted, China accounts for only a small percentage of Argenx's total revenue, but it remains an important long-term opportunity.

Whether or not Argenx's share price can soar 30% or more over the next 12 months, as many Wall Street analysts expect, remains to be seen. However, the risk-reward proposition for this biotech growth stock looks attractive.

Wells Fargo is an advertising partner of Motley Fool Money. Citigroup is an advertising partner of Motley Fool Money. Keith Speights has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Argenx Se and Jefferies Financial Group. The Motley Fool has a disclosure policy.