Argenx SE: Takeaways from our group dinner with ARGX at our Healthcare conference

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Argenx SE: Takeaways from our group dinner with ARGX at our Healthcare conference

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Argenx SE

Takeaways from our group dinner with

ARGX at our Healthcare conference

Maintain Rating: BUY | PO: 1,016.00 USD | Price: 813.28 USD

MG and CIDP still in early stages of the launch curve 12 May 2026

We hosted ARGX’s new CEO, Karen Massey, CCO, Sandrine Piret‑Gerard, and Chairman, Equity

Tim Van Hauwermeiren. Massey reaffirmed her commitment to Vision 2030 and to

Tazeen Ahmad

sustaining ARGX’s strong track record of commercial and clinical execution. Mgmt Research Analyst

emphasized that both MG and CIDP remain at an early stage of their launch curves. In BofAS tazeen.ahmad@bofa.com

MG, they highlighted that the recent approval in snMG and the expected approval in oMG

Daniel Giraldo

should support incremental near‑term growth, while longer‑term upside remains driven Research Analyst

by expansion into the ~80% of MG pts still not treated with a biologic. In CIDP, mgmt BofAS daniel.giraldoperez@bofa.com

sees meaningful opportunity to grow in the ~12K U.S. pts who remain inadequately

Jeremiah Lorentz

controlled on IVIg, alongside early signs of increasing use in the 1L setting, which could Research Analyst

add an additional ~12K pts. They emphasized that continued physician and patient BofASjeremiah.lorentz@bofa.com

education will be critical to unlock this opportunity. We remain bullish on Vyvgart’s Wesley Yon

launch trajectory and the multiple near‑term levers to expand the commercial Research Analyst

opportunity. ARGX is a large‑cap biotech top pick with a Buy and $1,106/ €863 PO. BofASwesley.yon@bofa.com

Mgmt reinforced confidence in all 3 myositis subtypes

On myositis, mgmt expressed strong conviction in the commercial opportunity,