10 Best Performing Biotech Stocks in 2024

4. Argenx SE (NASDAQ:ARGX)

Total YTD Return: 63.73% 

Argenx SE (NASDAQ:ARGX) is a global immunology company focused on developing antibody-based therapies for severe autoimmune diseases and cancer. Its key product, VYVGART (efgartigimod), is a neonatal Fc receptor blocker approved for treating generalized myasthenia gravis (gMG) in adults. The company uses advanced technologies, including its SIMPLE Antibody Platform, to develop therapies targeting complex diseases, with a pipeline that includes treatments like ARGX-110 and ARGX-117.

In Q3 2024, Argenx SE (NASDAQ:ARGX) reported strong financial results with a 74% year-over-year revenue growth, totaling $589 million. This increase was driven by robust sales of its flagship product, VYVGART, which generated $573 million in global net product sales. For the first nine months of 2024, VYVGART sales reached $1.449 billion. Operating expenses totaled $575 million, including $236 million in R&D and $278 million in SG&A. Despite higher expenses, the company reported a $14 million operating profit and a $91 million net profit. The corporation also strengthened its cash position, ending the quarter with $3.4 billion in cash.

Argenx SE (NASDAQ:ARGX) has emerged as one of the best-performing stocks in the healthcare sector, with analysts maintaining a consensus Strong Buy rating. The average price target is $674.62, with a high of $772.00 and a low of $575.00, indicating a 5.69% potential rise from the current price of $638.33. As of Q3 2024, 43 out of 900 hedge funds tracked by the Insider Monkey database held shares in the company. The largest shareholder is VenBio Select Advisor, with holdings valued at $671.3 million.