Here's Exactly Why Wall Street Thinks Argenx Stock Could Soar 23% Over the Next 12 Months
Key Points
Argenx's Vyvgart franchise enjoys strong sales momentum.
The company has multiple registrational data read-outs on the way.
Not every Wall Street analyst likes Argenx, but most analysts do.
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Even with a recent pullback, Argenx (NASDAQ: ARGX) stock remains a solid winner in 2026. Its shares are up roughly 14% year-to-date, with most of the gains coming over the last three months.
Wall Street thinks that Argenx has plenty of room to run. The consensus 12-month price target for the stock indicates a potential 23% upside. Here's exactly why analysts remain bullish about this biotech stock.
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Undeniable (and arguably unstoppable) momentum
I'd rank Argenx's undeniable business momentum as the top reason for Wall Street's bullish view about the stock. Argenx has delivered 18 consecutive quarters of revenue growth.
The company's global product net sales skyrocketed 60% year over year in the second quarter of 2026 to $1.5 billion. Even more impressive, in my opinion, is that sales jumped 17% quarter over quarter.
Argenx's Vyvgart franchise, which includes Vyvgart Hytrulo, continues to rack up commercial success in treating generalized myasthenia gravis (gMG) and chronic inflammatory demyelinating polyneuropathy (CIDP), both of which are chronic autoimmune disorders. Vyvgart is also approved in Japan for the treatment of primary immune thrombocytopenia (ITP).
The biggest factor behind Argenx's recent surge in growth is the U.S. Food and Drug Administration (FDA) approval of a label expansion for Vyvgart and Vyvgart Hytrulo in May 2026. This FDA decision made the therapies the first and only approved treatments for all serotypes of adults with gMG. Physicians now have a single treatment option for all their adult gMG patients.
However, CIDP is also an important growth driver for Argenx. Around 24,000 patients are being treated today for CIDP in the U.S., but roughly half of them aren't viewed as well-managed on their current therapy. Vyvgart was the first innovation in CIDP treatment in the last three decades.
Coming catalysts
Analysts also know that Argenx has several potential catalysts on the way. Several of them could move the needle significantly for this growth stock.
The company reported positive results from its Phase 3 study evaluating Vyvgart in ocular myasthenia gravis (oMG) earlier this year. CEO Karen Massey said in the Q2 earnings call, "We're moving forward with urgency on [the] ocular MG filing." There are currently no advanced therapies approved for oMG.
Argenx's positive results from another late-stage study of Vyvgart Hytrulo in treating chronic inflammatory disorder autoimmune myositis lay the foundation for another regulatory filing. Vyvgart Hytrulo was especially impressive in treating a type of autoimmune myositis called immune-mediated necrotizing myopathy (IMNM), which has no approved therapies.
The company plans to announce results in the fourth quarter of 2026 from a registrational study of empasiprubart for the treatment of multifocal motor neuropathy (MMN). Results from four registrational studies are expected next year: two for Vyvgart and two for empasiprubart.
One outlier on Wall Street
Twenty analysts rate Argenx as a "buy." Some are especially upbeat about the stock. For example, Wells Fargo's (NYSE: WFC) Derek Archila thinks Argenx could soar another 47% over the next 12 months. UBS (NYSE: UBS) analyst Xian Deng's price target reflects a 45% upside.
However, there isn't unanimous excitement on Wall Street about the biotech stock. One outlier, Colleen M. Kusy at Robert W. Baird, recommends holding rather than buying Argenx. Kusy's 12-month price target is even slightly below the current share price.
Why would any analyst be less than enthusiastic about Argenx? The company has a lot riding on its upcoming clinical data. The risks of disappointing results can't be overlooked.
At first glance, valuation might seem to be a concern, with Argenx's trailing 12-month price-to-earnings ratio of 36. I don't think this is worrisome, though, considering the company's strong growth. Argenx's price-to-earnings-to-growth (PEG) ratio, which incorporates analysts' five-year growth estimates, is a much more attractive 1.15.
Most analysts remain optimistic about Argenx due to the robust momentum of its Vyvgart franchise and near-term pipeline catalysts. I agree that the stock should have significant upside.
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Wells Fargo 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. The Motley Fool has a disclosure policy.
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