Argenx Skyrockets 11.86%—Is This the Start of a New Bull Run?

Summary
• argenx (ARGX) surges 11.86% intraday, trading at $669.915
• Q2 global product net sales hit $949 million, driving momentum
• BofA raises price target to $880, citing strong growth in VYVGART SC
• FDA alert on Vyvgart Hytrulo spurs volatility but fails to derail rally

Argenx’s stock is trading at historic levels amid a whirlwind of news. The biotech giant’s Q2 results and product expansion have ignited a surge, with the stock hitting a 52-week high of $689.13. While a regulatory alert initially pressured the stock, robust sales and analyst upgrades have reignited bullish momentum. Investors are now weighing whether this is a sustainable breakout or a volatile rebound.

FDA Alert and Product Momentum Fuel Volatility
argenx’s intraday rally follows a dramatic regulatory headwind: the FDA’s June 30 alert about Vyvgart Hytrulo’s potential to worsen CIDP. This triggered an initial selloff, but the stock rebounded as the company’s Q2 results and product pipeline gains took center stage. Sales of VYVGART SC, the subcutaneous formulation, drove 97% operational growth year-over-year. Meanwhile, BofA’s upgraded $880 price target—backed by $949 million in Q2 sales—reinforced confidence in the company’s ability to expand its autoimmune drug franchise. The stock’s 11.86% surge reflects a battle between regulatory caution and investor optimism over commercial momentum.

Biotech Sector Mixed as argenx Outpaces AMGN’s Decline
While argenx’s stock soars, the broader biotech sector remains fragmented. Amgen (AMGN), the sector’s leader, trades down 2.05% as investors reassess its exposure to pricing pressures and pipeline risks. argenx’s outperformance underscores its unique position: a high-growth biotech with a blockbuster autoimmune drug in VYVGART, now expanding via the prefilled syringe format. Unlike AMGN’s mature portfolio, argenx’s pipeline of six registrational and six proof-of-concept studies by 2026 offers a compelling narrative for investors seeking disruptive innovation.

Options Playbook: Leveraging Volatility with High-Gamma Calls
• 200-day average: 597.63 (below current price)
• RSI: 72.51 (overbought)
• MACD: 8.96 (bullish divergence)
• Bollinger Bands: Price at 669.915 (above upper band of 606.75)

The technical setup favors short-term bullish momentum. Key resistance lies at the 52-week high of $689.13; a break above this could trigger a retest of $700. The RSI’s overbought level warns of near-term consolidation, but the MACD’s positive divergence and high gamma in options suggest volatility is likely to persist.

Top Options:
• ARGX20250815C680
- Call Option, Strike: $680, Expiry: 2025-08-15
- Implied Volatility: 9.87% (moderate)
- Leverage Ratio: 231.78% (extreme)
- Delta: 0.3235 (moderate sensitivity)
- Theta: -0.7432 (high time decay)
- Gamma: 0.0259 (modest price sensitivity)
- Turnover: 0 (low liquidity)
- Why it stands out: The 231.78% leverage ratio amplifies gains if the stock closes above $680 by August 15. While turnover is low, the high gamma and delta make it ideal for a short-term breakout play.

• ARGX20250815C680 (same contract, no alternative available)
- Payoff Scenario: At a 5% upside (669.915 → 703.41), the call’s intrinsic value becomes $23.41 (703.41 - 680). Given the 231.78% leverage, this could translate to a 550% return if volatility holds.

Aggressive bulls should consider: argenx20250815C680 into a close above $680. The high leverage ratio and gamma make this a high-reward option if the stock breaks the 52-week high.

Backtest argenx Stock Performance
The backtest of ARGX's performance after a 12% intraday surge shows favorable short-to-medium-term gains, with the 3-Day win rate at 50.42%, the 10-Day win rate at 54.24%, and the 30-Day win rate at 61.56%. The maximum return during the backtest period was 5.83% over 30 days, indicating that while there is some volatility, ARGX tends to consolidate gains in the aftermath of a significant intraday surge.

Breakout or Bounce? Act Now on Key Levels
argenx’s 11.86% surge is a mix of resilience and momentum. The stock’s ability to rebound from the FDA alert and hit a new high suggests strong conviction in its pipeline and commercial execution. However, the RSI’s overbought level and Bollinger Bands’ upper limit warn of near-term profit-taking. Investors should monitor the $689.13 52-week high as a critical inflection point. Meanwhile, Amgen’s 2.05% decline highlights sector-wide caution, making argenx’s outperformance even more compelling. Act now: Buy argenx20250815C680 if $680 breaks, or target the 52-week high as a confirmation signal.