argenx SE, a commercial-stage biopharma company, develops various therapies for the treatment of autoimmune diseases in the United States, Japan, China, the Netherlands, and internationally.
FAIL · Does not pass the screen
984.04 USD
At the last full screen 2026-09-10
Screened 2026-09-10 · the tape above runs as of 19:00 UTC · two dates, stated on purpose · verdict and workings shown in full · never trimmed
The Label · The Season, Not the Day
This name holds its markdown label.
Argen X SE ADR holds its Markdown at $984.04. The statistical read favours the sellers, held for 18 days.
As held on the ledger · 2026-09-10
Phase
Markdown · caution
Quantitative state
The statistical read favours the sellers, held for 18 days
Price at the screen
$984.04
Valuation
37.44 trailing · 28.91 forward price to earnings
Values screen
FAIL· score 70.0
Beta
-0.03
The Workings
Five Screens, Shown in Full
Does not pass. Accounts receivable
Test
Figure
Limit
What it means
Status
Business activity
Permissible
Core business clean
Its core business isn't built on prohibited lines: no gambling, alcohol, tobacco, weapons, or interest-based lending.
Pass
Debt load
0.54%
Below 33%
Interest-bearing debt is just 0.5% of its assets, well under the one-third ceiling: it does not run on borrowed money.
Pass
Interest-bearing cash
0.12%
Below 33%
Cash held in interest-bearing accounts and securities is 0.1% of assets, under the one-third limit.
Pass
Receivables
57.37%
Below 49%
Money owed to the company is 57.4% of assets, above the 49% limit.
Fail
Revenue purity
3.93%
Below 5%
Only 3.9% of revenue comes from non-compliant sources, under the 5% line.
Pass
Five checks adapted from AAOIFI screening standards: business activity plus four balance-sheet ratios. All five must pass for ethical clearance. Every figure is arithmetic on public accounts, not judgement.
Fair value range in USD, drawn from the 2026-09-10 screen. The gold marker is the market price at the same screen. The price runs 2.3% above the base estimate.
Third-party analyst targets: 23 covering, consensus Strong Buy. The average target sits +19% from the screen price.
Reading the gap · Our more conservative model reads it as roughly fairly valued here, while the Street is more bullish: a quality-at-a-fair-price name rather than a deep-value one.
Price History & Projections
Where it has been, where the models see it going. History from market close data; projection points are our fair-value estimates and third-party analyst targets, dated to the 2026-09-10 screen.
Fair value and rating are our own model estimates; the Street's range reflects third-party analyst estimates. Analysis, not advice.
The Business, in Plain Words
Autoimmune drugs face narrow moats and modest upside
Autoimmune conditions flip the immune system into self-attack mode, and argenx sells VYVGART to blunt that response in markets from the US to Japan. Revenue is rising 63 percent while margins sit at 31 percent and the ethical screen clears without issue.
Those numbers look solid on paper, yet the narrow moat and just 8 percent margin of safety to our fair value leave no real opportunity. Forward earnings sit at 23.3 times with analysts clustered around a higher target, but the business lacks durable pricing power once rivals arrive.
Biotech launches can stall on fresh competition or regulatory shifts, and a narrow moat offers little cushion when growth normalises. Analysis, not advice.
The risks · The things to watch: its business and earnings are exposed to Netherlands and to currency swings; as a biotechnology name, trial and regulatory outcomes can move it sharply either way.
Plain-English interpretation of our own screen data. Analysis, not advice.
Where & How to Trade
ARGX trades on NASDAQ (the company is based in Netherlands). As a listed security it is accessible through almost any international broker offering its home market. New to this, or investing from abroad? Our guide to accessing global markets covers brokers, currencies and the practical steps.
The Dated Journal · Newest First, Never Edited
Every Entry, As Written
2026-08-21Markup$875.30+1.7%Entry 6
The framework reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved up 1.7% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is momentum reading neutral. Over the past year the shares are up 51%. Our forward projection puts the odds of a 10% gain over the next month near 31%. The street (22 analysts) rates it strong buy, with a mean price target of $1022.
2026-07-21Markup$860.55-3.7%Entry 5
The framework reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 3.7% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is momentum reading neutral. Over the past year the shares are up 51%. Our forward projection puts the odds of a 10% gain over the next month near 31%. The street (22 analysts) rates it strong buy, with a mean price target of $1022.
2026-07-18Markup$893.52+0.0%Entry 4
The framework reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is momentum reading neutral. Over the past year the shares are up 51%. Our forward projection puts the odds of a 10% gain over the next month near 31%. The street (22 analysts) rates it strong buy, with a mean price target of $1022.
2026-07-17Markup$893.52+0.0%Entry 3
The framework reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen (70). The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is momentum reading neutral. Over the past year the shares are up 51%. Our forward projection puts the odds of a 10% gain over the next month near 31%. The street (22 analysts) rates it strong buy, with a mean price target of $1022.
2026-07-03Markup$893.52+0.0%Entry 2
The framework reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen (70). The risk-adjusted return profile shows excellent risk-adjusted returns.
2026-07-02Markup$893.52Entry 1
The framework reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Ethical screening: PASS with passing ethical screen (70). The risk-adjusted return profile shows excellent risk-adjusted returns.
Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.