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Investing.com -- Argenx (EBR:ARGX) shares climbed more than 2% on Thursday after the Belgian biopharmaceutical company reported third-quarter results that exceeded forecasts, led by stronger product sales and profit growth.
Global product net sales reached $1.13 billion, surpassing the consensus estimate of $1.05 billion.
The figure marked a 96% increase from a year earlier and a 19% rise from the previous quarter. U.S. sales totaled $961 million, compared with a $889 million consensus.
Kepler Cheuvreux described the performance as “a masterclass in execution,” citing broad growth across both generalized myasthenia gravis (gMG) and chronic inflammatory demyelinating polyneuropathy (CIDP).
The company reported a net profit of $344 million, or $5.61 per share, translating to a margin of about 30%.
Operating costs, including research and development and selling, general and administrative expenses, reached $692 million, in line with the company’s full-year guidance of roughly $2.5 billion.
The company said nine-month product sales totaled $2.87 billion, already exceeding its full-year 2024 sales of $1.45 billion and representing about 73% of the FY25 consensus forecast of $3.93 billion.
Kepler Cheuvreux noted that “only a moderate Q4 contribution would be enough to exceed full-year expectations.”
Argenx said growth remained broad-based, supported by CIDP uptake and sustained repeat use in gMG. The rollout of its prefilled syringe, now approved in most major markets, continued to drive new patient starts. As of June, management reported about 15,000 treated patients globally, excluding China, including more than 2,500 with CIDP.
Gross-to-net and per-patient economics “remained stable,” according to the research report, easing prior concerns about payer mix or Medicare Part D migration.
The company ended the quarter with $4.3 billion in cash, providing capacity to fund clinical programs and manufacturing expansion, including a new Fujifilm facility in North Carolina for production of its lead therapy, efgartigimod.
Argenx’s development pipeline is entering what the brokerage called “one of the richest clinical periods in the biotech sector,” with five registrational readouts expected in 2026.
Upcoming milestones include data for ocular MG in the first half of 2026, myositis and thyroid eye disease in the second half, and Sjögren’s syndrome in 2027.
The company also expects data for empasiprubart in multiple mononeuropathy (MMN) in late 2026 and delayed graft function around year-end 2025.
The company confirmed plans to submit a supplemental biologics license application for seronegative gMG by the end of 2025.
It also plans a Phase 3 trial in Graves’ disease in the first half of 2026 and will advance ARGX-119 into registrational development for congenital myasthenic syndromes, with proof-of-concept data in amyotrophic lateral sclerosis expected in early 2026.
Kepler Cheuvreux said Argenx “remains the benchmark for execution in the biotech sector,” backed by stable pricing, diversified growth and a strong cash position.