Analyst Consensus ?
ConsensusBuy36 ratings
Bullish3288.9%
Neutral411.1%
Bearish00.0%
argenx SE · ARGX · FY2025 Q2 · Calendar Q3 2025
VYVGART momentum and pipeline depth remain central as pricing and execution risks rise
The supplied analysis supports a constructive operating thesis: continued VYVGART adoption and pipeline progress could extend growth, but the thesis requires evidence that pricing, competition, access, supply, and safety risks remain manageable.
Reported Before market openNASDAQHealthcare
$65.12B market cap
80quality score
Earnings scorecard
Reported versus consensus
Reported EPS
—
Consensus $0.98
EPS surprise
—
Reported versus consensus
Reported revenue
—
Consensus $737.1M
Revenue surprise
—
Reported versus consensus
Market reaction
prior-close to event-session close
Stock move
-8.6%
Event window
SPY move
+0.7%
Same window
Abnormal move
-9.3%
Stock minus SPY
Volume
5.5×
Versus trailing sessions
Subsequent drift
+3.0%
Up to 20 sessions
ARGXSPY benchmark
Ask FN2 about ARGX FY2025 Q2
Transcript, numbers and history already loaded
What drove ARGX's -8.6% move after FY2025 Q2 earnings?What changed in ARGX's guidance and outlook in FY2025 Q2?Give me the bull and bear case for ARGX after FY2025 Q2 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
The current analysis adds emphasis on broader pipeline development, manufacturing investment, and prefilled-syringe adoption, while highlighting greater attention to gross-to-net pressure, competition, supply execution, and CIDP safety monitoring.
Guidance delta
Maintained; the supplied analysis does not identify a change to guidance.
Key takeaways
- VYVGART remains the principal growth engine, with the prefilled syringe supporting patient reach and prescriber adoption.
- Management is broadening the pipeline and pursuing additional indications while expanding manufacturing and geographic coverage.
- The outlook is constructive but depends on payer access, supply execution, competitive positioning, and stable net pricing.
Management priorities
- Expand VYVGART through additional indications and geographies.
- Advance the clinical pipeline, including empasiprubart and ARGX-119 programs.
- Invest in manufacturing capacity and pursue selected business-development opportunities.
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Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$873.71Current
$326.27Low
$890.81Average
$1,400High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Oct 24, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| RBC Capital | Outperform | Outperform | Maintain | Oct 20, 2026 |
| Wells Fargo | Overweight | Overweight | Maintain | Oct 14, 2026 |
| Oppenheimer | Outperform | Outperform | Maintain | Oct 12, 2026 |
| Evercore ISI Group | Outperform | Outperform | Maintain | Oct 9, 2026 |
| Baird | Neutral | Neutral | Maintain | Oct 9, 2026 |
| Wedbush | Outperform | Outperform | Maintain | Sep 8, 2026 |
| Morgan Stanley | Overweight | Overweight | Maintain | Aug 31, 2026 |
| UBS | Buy | Neutral | Upgrade | Aug 26, 2026 |
| Truist Securities | Buy | Buy | Maintain | Aug 18, 2026 |
| HC Wainwright & Co. | Buy | Buy | Maintain | Aug 18, 2026 |
| Citizens | Market Outperform | Market Outperform | Maintain | Aug 18, 2026 |
| Piper Sandler | Overweight | Overweight | Maintain | Aug 17, 2026 |
| Guggenheim | Buy | Buy | Maintain | Jul 24, 2026 |
| Citigroup | Buy | Buy | Maintain | Jul 21, 2026 |
| B of A Securities | Buy | Buy | Maintain | Jul 2, 2026 |
| Stifel | Buy | Buy | Maintain | Dec 11, 2025 |
| JP Morgan | Overweight | Overweight | Maintain | Dec 8, 2025 |
| Wolfe Research | Peer Perform | Outperform | Downgrade | Nov 24, 2025 |
| TD Cowen | Buy | Buy | Maintain | Oct 31, 2025 |
| Citizens Capital Markets | Outperform | Outperform | Maintain | Feb 28, 2025 |
| JMP Securities | Market Outperform | Market Outperform | Maintain | Jan 14, 2025 |
| Scotiabank | Sector Outperform | Sector Perform | Upgrade | Nov 5, 2024 |
| William Blair | Outperform | Market Perform | Upgrade | Nov 1, 2024 |
| Barclays | Overweight | Equal Weight | Upgrade | Aug 6, 2024 |
| Raymond James | Strong Buy | Strong Buy | Maintain | Dec 21, 2023 |
| Jefferies | Buy | Buy | Maintain | Jul 17, 2023 |
| SVB Leerink | Outperform | Outperform | Maintain | Mar 3, 2023 |
| Cowen & Co. | Outperform | Outperform | Maintain | Jan 25, 2023 |
| Credit Suisse | Neutral | Neutral | Maintain | Dec 20, 2021 |
| Redburn Partners | Buy | Neutral | Upgrade | Sep 23, 2021 |
| Deutsche Bank | Hold | Hold | Maintain | Jul 23, 2021 |
| SunTrust Robinson Humphrey | Buy | Buy | Maintain | May 27, 2020 |
| PiperJaffray | Overweight | Overweight | Maintain | Jan 6, 2020 |
| Nomura | Buy | Buy | Maintain | Dec 13, 2019 |
| Goldman Sachs | Buy | Buy | Maintain | Dec 17, 2018 |
| Stifel Nicolaus | Buy | Buy | Maintain | Sep 14, 2018 |
Named analyst price targets
Upside is calculated against the persisted current price $873.7. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Morgan Stanley | Sean Laaman | $1,190 | $875.76 | +36.2% | Oct 23, 2026 |
| Guggenheim | Analyst unavailable | $1,120 | $875.76 | +28.2% | Oct 23, 2026 |
| Robert W. Baird | Collen Kusy | $861 | $875.76 | -1.5% | Oct 23, 2026 |
| Wells Fargo | Analyst unavailable | $1,336 | $875.76 | +52.9% | Oct 23, 2026 |
| Stifel Nicolaus | Alex Thompson | $1,200 | $886.47 | +37.3% | Oct 22, 2026 |
| Wells Fargo | Analyst unavailable | $1,356 | $802.64 | +55.2% | Oct 14, 2026 |
| Oppenheimer | Leland Gershell | $1,038 | $822.29 | +18.8% | Oct 12, 2026 |
| Morgan Stanley | Analyst unavailable | $1,140 | $815.86 | +30.5% | Oct 9, 2026 |
| Evercore ISI | Analyst unavailable | $1,078 | $817.5 | +23.4% | Oct 9, 2026 |
| Robert W. Baird | Collen Kusy | $823 | $818.63 | -5.8% | Oct 9, 2026 |
| Wells Fargo | Derek Archila | $1,355 | $818.63 | +55.1% | Oct 9, 2026 |
| Stifel Nicolaus | Alex Thompson | $1,282 | $795.7 | +46.7% | Oct 8, 2026 |
| Morgan Stanley | Analyst unavailable | $1,250 | $1,023.21 | +43.1% | Aug 31, 2026 |
| Wells Fargo | Derek Archila | $1,415 | $1,019.49 | +62.0% | Aug 26, 2026 |
| UBS | Xian Deng | $1,400 | $1,019.49 | +60.2% | Aug 26, 2026 |
| Morgan Stanley | Analyst unavailable | $1,230 | $989.79 | +40.8% | Aug 18, 2026 |
| Wedbush | Analyst unavailable | $1,150 | $987.84 | +31.6% | Aug 18, 2026 |
| Oppenheimer | Analyst unavailable | $1,100 | $987.84 | +25.9% | Aug 18, 2026 |
| RBC Capital | Luca Issi | $1,100 | $987.84 | +25.9% | Aug 18, 2026 |
| Truist Financial | Danielle Brill | $1,095 | $987.84 | +25.3% | Aug 18, 2026 |
| H.C. Wainwright | Analyst unavailable | $1,202 | $987.84 | +37.6% | Aug 18, 2026 |
| Piper Sandler | Analyst unavailable | $1,215 | $851.29 | +39.1% | Aug 17, 2026 |
| Wedbush | Analyst unavailable | $1,050 | $878.42 | +20.2% | Jul 28, 2026 |
| Robert W. Baird | Analyst unavailable | $932 | $918.22 | +6.7% | Jul 27, 2026 |
| Barclays | Analyst unavailable | $950 | $918.8 | +8.7% | Jul 24, 2026 |
| Morgan Stanley | Analyst unavailable | $1,200 | $916.69 | +37.3% | Jul 24, 2026 |
| Oppenheimer | Analyst unavailable | $1,037 | $923.26 | +18.7% | Jul 24, 2026 |
| Leerink Partners | Analyst unavailable | $1,065 | $924.6 | +21.9% | Jul 24, 2026 |
| Guggenheim | Analyst unavailable | $1,185 | $924.6 | +35.6% | Jul 24, 2026 |
| Wells Fargo | Analyst unavailable | $1,350 | $924.6 | +54.5% | Jul 24, 2026 |
| RBC Capital | Analyst unavailable | $1,025 | $924.6 | +17.3% | Jul 23, 2026 |
| RBC Capital | Analyst unavailable | $945 | $916.8 | +8.2% | Jul 7, 2026 |
| RBC Capital | Luca Issi | $890 | $855.84 | +1.9% | Jun 24, 2026 |
| Morgan Stanley | Sean Laaman | $1,180 | $869.41 | +35.1% | Jun 24, 2026 |
| H.C. Wainwright | Douglas Tsao | $940 | $813.14 | +7.6% | Jun 4, 2026 |
| Wells Fargo | Analyst unavailable | $1,291 | $835.99 | +47.8% | Jun 1, 2026 |
| Stifel Nicolaus | Alex Thompson | $1,255 | $838.49 | +43.6% | May 28, 2026 |
| Morgan Stanley | Sean Laaman | $1,170 | $788.73 | +33.9% | May 8, 2026 |
| Guggenheim | Yatin Suneja | $1,135 | $787.31 | +29.9% | May 8, 2026 |
| Wells Fargo | Analyst unavailable | $1,260 | $787.31 | +44.2% | May 8, 2026 |
| Stifel Nicolaus | Analyst unavailable | $1,222 | $784.96 | +39.9% | May 7, 2026 |
| Stifel Nicolaus | Alex Thompson | $1,227 | $769.98 | +40.4% | Feb 26, 2026 |
| Wells Fargo | Analyst unavailable | $1,317 | $800.01 | +50.7% | Jan 20, 2026 |
| Truist Financial | Danielle Brill | $1,030 | $822.94 | +17.9% | Jan 8, 2026 |
| Morgan Stanley | Sean Laaman | $1,160 | $822.94 | +32.8% | Jan 8, 2026 |
| Guggenheim | Yatin Suneja | $1,160 | $850.56 | +32.8% | Dec 18, 2025 |
| Needham | Analyst unavailable | $1,006 | $862.05 | +15.1% | Dec 18, 2025 |
| Robert W. Baird | Collen Kusy | $858 | $862.05 | -1.8% | Dec 18, 2025 |
| RBC Capital | Analyst unavailable | $925 | $863.37 | +5.9% | Dec 17, 2025 |
| Stifel Nicolaus | Analyst unavailable | $1,248 | $889.76 | +42.8% | Dec 11, 2025 |
| UBS | Xian Deng | $910 | $900.76 | +4.2% | Dec 9, 2025 |
| Morgan Stanley | Sean Laaman | $1,110 | $920.45 | +27.0% | Dec 4, 2025 |
| Piper Sandler | Analyst unavailable | $930 | $842.67 | +6.4% | Nov 4, 2025 |
| Evercore ISI | Analyst unavailable | $910 | $812.88 | +4.2% | Oct 31, 2025 |
| Cowen & Co. | Analyst unavailable | $1,146 | $816.82 | +31.2% | Oct 31, 2025 |
| Robert W. Baird | Analyst unavailable | $924 | $828.84 | +5.8% | Oct 31, 2025 |
| H.C. Wainwright | Analyst unavailable | $915 | $820.36 | +4.7% | Oct 31, 2025 |
| Wedbush | Analyst unavailable | $880 | $796.92 | +0.7% | Oct 13, 2025 |
| Morgan Stanley | Analyst unavailable | $1,040 | $737.56 | +19.0% | Oct 1, 2025 |
| Stifel Nicolaus | Alex Thompson | $882 | $731.77 | +0.9% | Sep 18, 2025 |
| Piper Sandler | Analyst unavailable | $820 | $698.99 | -6.1% | Aug 26, 2025 |
| Jefferies | Analyst unavailable | $818 | $698.99 | -6.4% | Aug 26, 2025 |
| RBC Capital | Luca Issi | $850 | $677.32 | -2.7% | Aug 25, 2025 |
| JMP Securities | Jason Butler | $699 | $560.9 | -20.0% | May 14, 2025 |
| Robert W. Baird | Analyst unavailable | $680 | $621.25 | -22.2% | Mar 4, 2025 |
| JMP Securities | Jason Butler | $696 | $648.62 | -20.3% | Jan 14, 2025 |
| Scotiabank | George Farmer | $715 | $602.47 | -18.2% | Nov 5, 2024 |
| Raymond James | Danielle Brill | $605 | $520.52 | -30.8% | Oct 10, 2024 |
| Robert W. Baird | Joel Beatty | $515 | $495.92 | -41.1% | Jul 29, 2024 |
| H.C. Wainwright | Douglas Tsao | $533 | $492.06 | -39.0% | Jul 26, 2024 |
| Oppenheimer | Leland Gershell | $546 | $461.01 | -37.5% | Jul 23, 2024 |
| Truist Financial | Joon Lee | $540 | $461.01 | -38.2% | Jul 22, 2024 |
| Evercore ISI | Gavin Clark-Gartner | $533 | $461.72 | -39.0% | Jul 12, 2024 |
| H.C. Wainwright | Douglas Tsao | $490 | $451.55 | -43.9% | Jun 26, 2024 |
| Truist Financial | Joon Lee | $480 | $441.16 | -45.1% | Jun 24, 2024 |
| Scotiabank | George Farmer | $416 | $437.96 | -52.4% | Jun 24, 2024 |
| Wells Fargo | Derek Archila | $542 | $394.47 | -38.0% | Jun 24, 2024 |
| Stifel Nicolaus | Alex Thompson | $500 | $436.79 | -42.8% | Jun 24, 2024 |
| H.C. Wainwright | Douglas Tsao | $448 | $380.9 | -48.7% | May 10, 2024 |
| Stifel Nicolaus | Derek Archilia | $485 | $382.55 | -44.5% | May 9, 2024 |
| H.C. Wainwright | Analyst unavailable | $480 | $372.96 | -45.1% | Jan 10, 2023 |
| Stifel Nicolaus | Stifel Stifel | $478 | $378.83 | -45.3% | Dec 31, 2022 |
| Kepler Capital | Daan Vandenberk | $326.27 | $281.48 | -62.7% | Jan 20, 2022 |
| Wedbush | David Nierengarten | $382 | $312.58 | -56.3% | Jan 7, 2022 |
| J.P. Morgan | James Gordon | $400 | $344 | -54.2% | Jan 4, 2022 |
| Bank of America Securities | Tazeen Ahmad | $383 | $337.51 | -56.2% | Dec 20, 2021 |
| Guggenheim | Yatin Suneja | $330 | $280.83 | -62.2% | Oct 28, 2021 |
| Jefferies | Akash Tewari | $362 | $293.3 | -58.6% | Oct 6, 2021 |
| UBS | Laura Sutcliffe | $390 | $318.16 | -55.4% | Jun 18, 2021 |
Track every rating change on ARGX the moment it posts. Free to start.
Start freeCompany context
Snapshot as of publicationargenx SE, a biotechnology company established in Amsterdam, the Netherlands, in 2008, is dedicated to developing innovative therapies primarily for autoimmune diseases. The company's operations span across key global markets, including the United States, Japan, Europe, the Middle East, Africa, and China. Its leading investigational therapy is efgartigimod, which is being developed to address a broad range of conditions. These include generalized myasthenia gravis, immune thrombocytopenia, pemphigus vulgaris, chronic inflammatory demyelinating polyneuropathy, thyroid eye disease, bullous pemphigoid, myositis, primary Sjögren's syndrome, post-COVID postural orthostatic tachycardia syndrome, membranous nephropathy, lupus nephropathy, ANCA-associated vasculitis, and antibody-mediated rejection. Also noted in connection with its lead product efforts is ENHANZE SC. The company's extensive development pipeline features several other promising candidates.…
Historical context
All ARGX earningsHealthcare peers this season
Latest reports in the same sector| Company | Quarter | EPS surprise | Market move | Headline |
|---|---|---|---|---|
| RDY Dr. Reddy's Laboratories Limited | FY2027 Q2 · Calendar Q4 2026 | +24.0% | -0.2% | Dr. Reddy’s: margins improve as semaglutide rollout advances |
| DGX Quest Diagnostics Incorporated | FY2026 Q3 · Calendar Q4 2026 | +4.5% | +1.8% | Quest Diagnostics: growth broadens, but PAMA remains a headwind |
| MEDP Medpace Holdings, Inc. | FY2026 Q3 · Calendar Q4 2026 | +9.0% | -1.3% | Medpace: Record awards lift backlog as 2026 outlook improves |
| MOH Molina Healthcare, Inc. | FY2026 Q3 · Calendar Q4 2026 | +12.7% | +0.8% | Molina reaffirms 2026 outlook as Florida contract scales |
Latest beats and misses
Who reports nextBeat on EPS
- FCNCAFY2026 Q3 · October 23, 2026+19.9% EPS+8.2% move
- FCNCNFY2026 Q3 · October 23, 2026+19.9% EPS+0.2% move
- FCNCOFY2026 Q3 · October 23, 2026+19.9% EPS+1.0% move
- FCNCPFY2026 Q3 · October 23, 2026+19.9% EPS+1.0% move
- RDYFY2027 Q2 · October 23, 2026+24.0% EPS-0.2% move
- SLBFY2026 Q3 · October 23, 2026+3.7% EPS+7.1% move
Missed on EPS
- INFYFY2027 Q2 · October 23, 2026-4.8% EPS-6.6% move
- BBDFY2026 Q3 · October 22, 2026-7.7% EPS+3.0% move
- SNAFY2026 Q3 · October 22, 2026-5.9% EPS-3.4% move
- SPOTFY2026 Q3 · October 22, 2026-11.6% EPS+11.1% move
- VRSNFY2026 Q3 · October 22, 2026-2.0% EPS-0.9% move
- HBANMFY2026 Q3 · October 22, 2026-5.3% EPS+0.5% move
Get the ARGX recap when the next report posts
One email per quarter with the scorecard, the market reaction and what changed on the call. No account needed.
Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2025-04-24T00:01:17.206701+00:00
- Polygon adjusted daily market bars · 2026-10-24T08:00:42.698389+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-24T08:00:42.695568+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-10-24. For educational purposes only; not investment advice.