High growth innovator with
established income streams
Rating: BUY
Target Price: 1202,23 SEK
Upside: +61%
VYVGART has demonstrated strong commercial traction with ~118% revenue CAGR and continues to scale through increased penetration, new formulations, and geographic expansion, providing a solid and growing cash flow base
At current valuation investors seem to primarily project cash flows from the current project line and giving limited value to the pipeline. Even at conservative estimates and discount rate Argenx looks undervalued from multiple DCF analysis.
Argenx combines superior revenue growth with expanding margins, outperforming peers across key financial metrics, supporting its premium valuation and long-term earnings potential.
Analyst: Måns Falk
07/04/2026