argenx SE (ARGX): A Bull Case Theory

We came crossed a bullish thesis on argenx SE on Lux Opes Research’s Substack. In this article, we volition summarize the bulls’ thesis on ARGX. argenx SE's share was trading astatine $833.16 as of January 26th. ARGX’s trailing and forward P/E were 35.64 and 27.93 respectively according to Yahoo Finance.

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argenx SE, a commercial-stage biopharma company, develops assorted therapies for the attraction of autoimmune diseases successful the United States, Japan, China, the Netherlands, and internationally. ARGX has entered 2026 with beardown momentum, gathering connected the blockbuster occurrence of VYVGART, which generated implicit $4.1 cardinal successful 2025, astir doubling year-on-year.

The maturation has been driven by continued uptake successful generalized myasthenia gravis (gMG) and chronic inflammatory demyelinating polyneuropathy (CIDP), with the rollout of a prefilled syringe easing medication and expanding adoption crossed geographies and indications.

VYVGART is nary longer a one-off motorboat success; it has evolved into a durable franchise with aggregate levers to thrust further growth. Management is present focused connected systematically expanding the addressable diligent colonisation alternatively than simply proving demand. Key priorities for 2026 see broadening VYVGART’s planetary footprint and extending its scope into further indications specified arsenic seronegative and ocular MG, immune thrombocytopenia, myositis, and Sjögren’s disease, each offering incremental optionality alternatively than binary risk.

Argenx is besides committed to defending and advancing its enactment successful FcRn biology done next-generation molecules, operation strategies, and caller transportation formats, including a planned autoinjector successful 2027 that could deepen chronic usage adoption. Beyond VYVGART, the institution is gathering a robust pipeline, with astir 10 registrational studies ongoing and 10 molecules successful objective improvement by year-end, including first-in-class programs specified arsenic empasiprubart, with a pivotal multifocal centrifugal neuropathy readout expected successful precocious 2026, and ARGX-121 successful IgA nephropathy.

Argenx has successfully transitioned from a single-asset biotech into a platform-driven commercialized organization, wherever VYVGART provides scale, currency flow, and credibility, and the increasing pipeline reduces attraction hazard portion extending the maturation runway. With continued execution, Argenx is progressively positioned arsenic a long-duration immunology compounder with aggregate opportunities for sustained worth creation.