argenx SE (ARGX): A Bull Case Theory

We came across a bullish thesis on argenx SE (ARGX) by Simvestor08 on r/valueinvesting on Reddit.. In this article, we will summarize the bulls’ thesis on ARGX. argenx SE (ARGX)'s share was trading at $573.26 as of 30^th May. ARGX’s trailing and forward P/E were 34.93 and 59.88 respectively according to Yahoo Finance.

Argenx (ARGX), a $35 billion biotech company dual-listed on Nasdaq and Belgium’s BEL 20, presents a highly compelling investment case with strong upside potential, backed by a proven management team and a deep pipeline. Despite broader sector pressures, including political noise related to Trump and general weakness across pharma, Argenx remains well-positioned for sustained growth.

The company is already profitable and boasts a commercialized multi-blockbuster drug, with several late-stage candidates in its pipeline. Guggenheim recently assigned a $1,065 price target—nearly double the current ~$573 share price—highlighting the potential of Argenx’s upcoming Phase 2 and Phase 3 readouts, which are largely derisked with estimated success probabilities ranging from 70% to 90%. Beyond its pipeline strength, Argenx is widely respected for its disciplined and focused leadership, a quality that has been consistently noted across the biotech community.

In 2023, Bloomberg reported that Argenx engaged JP Morgan to explore strategic options, including a potential takeover, following the release of positive Phase 3 data for CIDP—an indication with peak sales projected at $4–5 billion. The company’s business model is also structurally resilient to political risk; it maintains a tight pricing corridor between the US and Europe and manufactures its US-sold products domestically, minimizing exposure to drug pricing reforms or supply chain disruptions.

While the recent downturn in pharma dragged ARGX’s valuation lower, the fundamentals remain intact, and with multiple catalysts on the horizon, a doubling of the share price within 12 to 24 months appears feasible for long-term investors.

Previously, we have covered ARGX in May 2025 wherein we summarized a bullish thesis by FluentInQuality on Substack. The author highlighted the company’s transformation into a platform biotech leveraging FcRn inhibition to systematically expand into chronic autoimmune indications, anchored by its flagship therapy, Vyvgart. The article emphasized that despite strong revenue growth, a deep pipeline, and strategic global expansion, the market had undervalued argenx’s long-term potential and M&A appeal.

argenx SE (ARGX) is not on our list of the 30 Most Popular Stocks Among Hedge Funds. As per our database, 54 hedge fund portfolios held ARGX at the end of the first quarter which was 47 in the previous quarter. While we acknowledge the potential of ARGX as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock.

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Disclosure: None. This article was originally published at Insider Monkey.