Argenx Shares 'Round Tripping,' Driven by Drug Development Updates, RBC Says

11:11 AM EDT, 10/20/2026 (MT Newswires) -- Argenx (ARGX) shares have been "round tripping," with the volatility driven by the company's recent drug development updates, RBC Capital Markets said in a Tuesday note. Highs in early August were driven by positive results from the company's phase 3 study of Vyvgart Hytrulo in adults with autoimmune myositis, but were offset by Argenx's discontinuation of its phase 3 trial of the product candidate in adults with moderate-to-severe Sjogren's disease, the brokerage said. Shares were also weighed down by a "tough degrossing biotech tape," pulling prices back to low $800s, RBC noted. According to RBC, investors could be undervaluing the company's breakthrough in celiac disease, with a competitive product candidate that remains to be added to their Argenx models. RBC has an outperform rating on Argenx, with a lower price target of $1,025 from $1,100. Price: 878.14, Change: +52.53, Percent Change: +6.36