Argenx price target raised to $880 from $800 at Wedbush

Wedbush raised the firm’s price target on Argenx (ARGX) to $880 from $800 and keeps an Outperform rating on the shares. Ahead of the company’s Q3 earnings results, which is slated for October 30, the firm revisits its second half of 2025 outlook following a strong commercial first half. Vyvgart delivered impressive topline growth in the first half of 2025, with revenue of $790M in Q1 and $949M in Q2, driven by continued MG uptake, earlier-line use, and meaningful traction in CIDP, with over 2,500 CIDP patients on therapy as of June 30. Shares pulled back following Q1 commentary around Medicare Part D gross-to-net concerns, which Wedbush viewed as short-sighted, but have since more than recovered after a stronger-than-expected Q2, aided by rapid PFS uptake. Looking ahead, we continue to expect CIDP to be a major growth engine through the remainder of 2025, and attribute roughly a quarter of its $3.9B Vyvgart 2025 revenue estimate to CIDP sales.