ARGX.BR · BRU Euro Stoxx 50

argenx SE

Healthcare · Biotechnology

€870.40 +€6.20 (+0.72%) today

Closing price on Nov 11, 2026 · Source: Yahoo Finance

Consensus of 15 analysts

Buy

Median price target €960.67 +10.4%

Open: €865.60
Day range: 865.40 – €873.00
52-week range: 568.40 – €925.00
Volume: 9,201
Market cap: €54,736M
P/E (TTM): 35.0x
EPS (TTM): €24.85
EPS est. 2026: €29.45
P/E est. 2026: 29.6x
Dividend yield: n/a
Beta: −0.06
Payout: 0%

Analyst summary

Generated with AI · Nov 11, 2026, 14:07

argenx is a commercial-stage biotechnology company focused on autoimmune diseases, with VYVGART and VYVGART HYTRULO underpinning a broad development portfolio. Q3 2026 revenue grew 52.7% year on year to €1,721M and net income rose 47.1% to €506M, although net margin eased 1.1 pp to 29.4%. Earnings have turned positive since 2024, and analyst estimates point to further EPS growth, while the shares trade at 35.0x trailing earnings.

1Q3 2026 revenue rose 52.7% year on year to €1,721M.
2Net income was €506M, while net margin declined 1.1 pp to 29.4%.
3Analysts’ median target of €960.67 implies 10.4% upside from €870.40.

Argenx financials

Q3 2026 results, quarter ended Sep 30, 2026

Metric	Q3 2026	1-year change
Total revenue	€1,721M	+52.7%
Net income	€506M	+47.1%
Earnings per share	€7.80	+42.6%
Net margin	29.4%	−1.1 pp
Free cash flow	n/a	n/a
Debt / equity	n/a	n/a

Revenue and net income (€M)

Total revenueNet income

Quarter	Total revenue	Net income
Q3 2025	€1,127M	€344M
Q4 2025	€1,288M	€533M
Q1 2026	€1,298M	€366M
Q2 2026	€1,515M	€472M
Q3 2026	€1,721M	€506M

Q3 2026 revenue reached €1,721M, up 52.7% year on year, extending the quarterly increase from €1,127M in Q3 2025. Net income was €506M, up 47.1%, but the 29.4% net margin contracted 1.1 pp. Quarterly net income has varied, from €533M in Q4 2025 to €366M in Q1 2026 before recovering to €506M in Q3.

EPS was €7.80 in Q3 2026, up 42.6% year on year. Results beat estimates in Q4 2025 (+57.2%) and Q2 2026 (+12.3%), but missed in Q1 (−4.3%); no Q3 estimate comparison is supplied. Annual EPS moved from losses in 2022 and 2023 to €19.570 in 2025, with consensus at €29.446 for 2026 and €35.956 for 2027. Free cash flow and debt/equity are n/a. The 35.0x trailing P/E compares with estimated P/E ratios of 29.6x for 2026 and 24.2x for 2027.

Written by AI · Nov 11, 2026, 14:07

Argenx earnings per share (EPS)

Consensus estimates

Period	EPS est.	1-year change
Current quarterQ4 2026 · Analysts: 1	€8.0658.07 – 8.07	+0.6%€8.020
Current year2026 · Analysts: 3	€29.44628.38 – 30.56	+50.5%€19.570
Next year2027 · Analysts: 4	€35.95633.97 – 38.77	+22.1%€29.446

Forward P/E: 29.6x (2026) and 24.2x (2027) at the current price.

Actual and estimated EPS (€)

Actual EPSEstimated EPS

Quarter	Actual EPS	Estimated EPS
Q3 2025	€5.470	—
Q4 2025	€8.020	€5.102
Q1 2026	€5.520	€5.765
Q2 2026	€7.320	€6.517
Q3 2026	€7.800	—
Q4 2026	—	€8.065

Year	Actual EPS	Estimated EPS
2022	−€13.050	—
2023	−€5.160	—
2024	€12.780	—
2025	€19.570	—
2026	—	€29.446
2027	—	€35.956

EPS trend

Quarter	EPS	YoY change
Q4 2026Estimated	€8.065	+0.6%
Q3 2026	€7.800	+42.6%
Q2 2026	€7.320est. €6.517 · surprise +12.3%	n/a
Q1 2026	€5.520est. €5.765 · surprise −4.3%	n/a
Q4 2025	€8.020est. €5.102 · surprise +57.2%	n/a
Q3 2025	€5.470	n/a

Year	EPS	Annual change
2027Estimated	€35.956	+22.1%
2026Estimated	€29.446	+50.5%
2025	€19.570	+53.1%
2024	€12.780	n/s
2023	−€5.160	n/s
2022	−€13.050	n/a

Normalised EPS according to the analyst consensus collected by Yahoo Finance; it may differ from the reported EPS in the results table.

Argenx dividend

Argenx has not paid dividends in recent years.

Argenx forecasts

15 analyst ratings

Buy87% Hold13% Sell0%

Consensus: Buy · 13 buy, 2 hold, 0 sell

1-year price forecast

Share price Price target (high, median, low)

12-month price targets
Target	Price	Upside
High	€1,212.17	+39.3%
Median	€960.67	+10.4%
Low	€781.26	−10.2%

Monthly close (last 12 months)
Date	Close
Nov 28, 2025	€782.40
Dec 31, 2025	€716.80
Jan 30, 2026	€703.80
Feb 27, 2026	€657.40
Mar 31, 2026	€620.80
Apr 30, 2026	€668.00
May 29, 2026	€715.60
Jun 30, 2026	€811.40
Jul 31, 2026	€745.00
Aug 31, 2026	€875.60
Sep 30, 2026	€846.80
Oct 30, 2026	€807.20
Nov 11, 2026	€870.40

Argenx peers

Ticker	Company	Market cap (€M)	P/E	Price (€)	1-day change	52-week range
ARGX.BR	Argenx	54,736	35.0x	870.40	+0.72%	568.40925.00
VRTX	Vertex Pharmaceuticals	138,911	35.3x	547.89 $	−0.54%	412.27568.67
MRNA	Moderna	101,491	n/a	250.83 $	−6.75%	22.28280.80
REGN	Regeneron Pharmaceuticals	94,764	20.2x	916.06 $	−0.42%	591.52991.73
INCY	Incyte	24,521	61.4x	120.30 $	−1.30%	89.25132.60
TECH	Bio-Techne	11,439	66.8x	72.82 $	−0.01%	43.2072.88

Stocks quoted in another currency are shown in their trading currency.

Risks, catalysts and conclusion

Generated with AI · Nov 11, 2026, 14:07

Risks

Dependence on VYVGART products could leave revenue exposed to weaker demand or stronger competition in autoimmune treatments.
Clinical or regulatory setbacks across the broad development pipeline could limit future growth opportunities.
A 35.0x trailing P/E leaves the valuation vulnerable if earnings growth falls short of expectations.

Catalysts

Further uptake of VYVGART and VYVGART HYTRULO could support continued commercial growth.
Progress in developing efgartigimod for additional autoimmune conditions could broaden the potential treatment portfolio.
Advancement of candidates including empasiprubart and other pipeline therapies could strengthen longer-term growth prospects.

Conclusion

argenx combines rapid revenue and earnings growth with a broad autoimmune-disease pipeline, and consensus anticipates further EPS expansion. Its current and forward P/E multiples remain substantial, though the forward estimates imply a lower multiple as earnings grow. The analyst consensus is positive and the median target indicates 10.4% upside, but the wide target range and dependence on product and pipeline execution argue for a balanced assessment.

Analysis written automatically by AI from Yahoo Finance market data on Nov 11, 2026, 14:07.

This content is for information only and is not financial advice or a recommendation to buy or sell securities. Ratings and price targets come from third-party analysts. Investing in the stock market involves the risk of losing capital.