reports
argenx and Tennis Legend Monica Seles Team Up to Raise Awareness of My...
argenx and Tennis Legend Monica Seles Team Up to Raise Awareness of Myasthenia Gravis Seles speaks out about her diagnosis with MG, a chronic autoimmune disease that causes muscle weakness, which can be severe and significantly impact daily life Partnership with Seles will highlight the ‘Go for Greater’ MG patient support initiative at the 2025 U.S. Open Tennis Championships August 12, 2025 6:45 AM EDT Amsterdam, the Netherlands – argenx SE (Euronext & Nasdaq: ARGX), a global immunology company committed to improving the lives of people suffering from severe autoimmune diseases, today ...
Argen X SE: 1 director
A director at Argen X SE sold 1,630 shares at 601.990EUR and the significance rating of the trade was 100/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly sho...
- Hilde Van Boxstael
- Jacob Mekhael
- Kristof Samoy
- Wim Lewi
- Jacob Mekhael
argenx Upping our FY25 estimates after a solid 2Q25 beat
Following argenx' 2Q25 results with Vyvgart sales coming in at $ 949m, and beating CSS by 10%, we update our model, upping our Vyvgart sales estimates for FY25 to $ 3.98b (from $ 3.61b, Visible Alpha CSS: $ 3.97b). We factor in potential competition from IMAAVY (J&J), though we continue to see Vyvgart as the better product, and model approx. 12% q/q growth for 3Q25 and 4Q25. Additionally, we slightly tweak our CIDP numbers bringing us to higher peak sales ($ 4.22b vs. $ 3.76b). All in all, our t...
- ING Helpdesk
Benelux Morning Notes
ABN AMRO: Better bottom line, mixed underlying, strong capital, SBB €250m. Ahold Delhaize: 2Q25 profitability beat thanks to insurance results. Coca-Cola Europacific Partners PLC: Fizzing along nicely. Kinepolis: July 2025 box office in US/Canada and France down, on strong comps. Vonovia: Good results, 5.6% guidance increase. UCB: Evenity continues to surprise to the upside. Zabka: Another miss on Adj. Net Income in 2Q25
- ING Helpdesk
Benelux Morning Notes
Alfen: Preview - muddling through? Belgian telcos: Competition Authority investigation on Proximus/Orange Belgium MoU. Brunel International: 2Q25 below, 3Q25 outlook cut, cost savings protect FY25 estimates. Euronext: Another record set of results. Fugro: Sharper V-shape? GBL: Weak NAV performance, as expected. KBC Ancora: Cooperative CERA increasing its stake to 51.24%, using excess cash. UCB: Renewed US threats to cut drug prices. Umicore: 1H25 and guide broadly in-line, new S...
- Dominic Rose
- Naresh Chouhan
UCB - Still Plenty of Upside – PT up to €270 (BUY, TP €270 [250], 8pgs...
We upgrade our 2026 Bimzelx sales to be €0.9bn higher than consensus with conservative assumptions & and are now 11% above consensus on 2026 group sales & 19% on EBITDA. We upgrade our already above-consensus ‘27 EBITDA by 5%. Using our proprietary product-by-product Contribution Analysis, we show that the gross margin is highly sensitive to Bimzelx growth. We analyse the galvokimig data, which looks very strong Vs Dupi. Whilst UCB pipeline readouts & Moonlake risk will dominate specialists’ tho...
- Jacob Mekhael
argenx 1H25 conference call feedback
argenx reported 1H25 results today, with Vyvgart sales showing a solid CSS beat. In this note you can find our main takeaways from the conference call. ARGX-119 phase 3 in CMS - argenx emphasized that they currently have 3 assets in phase 3 development with the advancement of ARGX-119 to phase 3 in Congenital Myasthenic Syndrome (CMS). ARGX-119 targets MuSK in the neuromuscular junction and is advanced in CMS, an ultra-rare disease. This allows for a small trial with dense monitoring of patients...
- Jacob Mekhael
- Louis Boujard
- CFA
- Philippe Ourpatian
- Thomas Zlowodzki
AKE ARKEMA
LHN HOLCIM AG
LHA DEUTSCHE LUFTHANSA AKTIENGESELLSCHAFT
BMW BAYERISCHE MOTOREN WERKE AKTIENGESELLSCHAFT
AC ACCOR SA
VIE VEOLIA ENVIRONNEMENT SA
IPN IPSEN SA
RR. ROLLS-ROYCE HOLDINGS PLC
EDP EDP-ENERGIAS DE PORTUGAL SA
DG VINCI SA
UBSN UBS GROUP AG
MT ARCELORMITTAL SA
ADP AEROPORTS DE PARIS SA
DGE DIAGEO PLC
SU SCHNEIDER ELECTRIC SE
RNO RENAULT SA
LI KLEPIERRE SA
RI PERNOD RICARD SA
RMS HERMES INTERNATIONAL SCA
DAI DAIMLER AG
EN BOUYGUES SA
LSEG LONDON STOCK EXCHANGE GROUP PLC
OMV OMV AG
KOMB KOMERCNI BANKA A.S.
ISP INTESA SANPAOLO S.P.A.
SAN SANOFI
SAF SAFRAN S.A.
HEI HEIDELBERGCEMENT AG
AIR AIRBUS SE
VER VERBUND AG CLASS A
CAP CAPGEMINI SE
UCB UCB S.A.
01913 PRADA S.P.A.
BA. BAE SYSTEMS PLC
NEM NEMETSCHEK SE
ARCAD ARCADIS NV
EDW EDP RENOVAVEIS SA
ACS ACTIVIDADES DE CONSTRUCCION Y SERVICIOS SA
PRY PRYSMIAN S.P.A.
ANDR ANDRITZ AG
MERLIN MERLIN PROPERTIES SOCIMI S.A.
ABI BANCO SANTANDER S.A.
RIO ANHEUSER-BUSCH INBEV SA/NV
LDO RIO TINTO PLC
SNP LEONARDO SPA
ARGX PETROM S.A.
SHL ARGEN-X SE
ULA SIEMENS HEALTHINEERS AG
KBX UNIBAIL-RODAMCO-WESTFIELD SE STAPLED SECS CONS OF 1 SH UNIBAIL RODAMCO + 1 SH WFD UNIB ROD
NEXI KNORR-BREMSE AG
FDJ NEXI S.P.A.
SHEL LA FRANCAISE DES JEUX SA
P911 SHELL PLC
DSFIR DR. ING. H.C. F. PORSCHE AKTIENGESELLSCHAFT
ARM KONINKLIJKE DSM N.V.
TEN ARM HOLDINGS PLC
SYENS TENARIS S.A.
AAL SYENSQO
ANGLO AMERICAN PLC
- Louis Boujard
- CFA
- Philippe Ourpatian
AKE ARKEMA
LHN HOLCIM AG
LHA DEUTSCHE LUFTHANSA AKTIENGESELLSCHAFT
BMW BAYERISCHE MOTOREN WERKE AKTIENGESELLSCHAFT
AC ACCOR SA
VIE VEOLIA ENVIRONNEMENT SA
IPN IPSEN SA
RR. ROLLS-ROYCE HOLDINGS PLC
EDP EDP-ENERGIAS DE PORTUGAL SA
DG VINCI SA
UBSN UBS GROUP AG
MT ARCELORMITTAL SA
ADP AEROPORTS DE PARIS SA
DGE DIAGEO PLC
SU SCHNEIDER ELECTRIC SE
RNO RENAULT SA
LI KLEPIERRE SA
RI PERNOD RICARD SA
RMS HERMES INTERNATIONAL SCA
DAI DAIMLER AG
EN BOUYGUES SA
LSEG LONDON STOCK EXCHANGE GROUP PLC
KOMB KOMERCNI BANKA A.S.
ISP INTESA SANPAOLO S.P.A.
SAN SANOFI
SAF SAFRAN S.A.
HEI HEIDELBERGCEMENT AG
AIR AIRBUS SE
VER VERBUND AG CLASS A
CAP CAPGEMINI SE
UCB UCB S.A.
01913 PRADA S.P.A.
BA. BAE SYSTEMS PLC
NEM NEMETSCHEK SE
ARCAD ARCADIS NV
EDW EDP RENOVAVEIS SA
ACS ACTIVIDADES DE CONSTRUCCION Y SERVICIOS SA
PRY PRYSMIAN S.P.A.
ANDR ANDRITZ AG
MERLIN MERLIN PROPERTIES SOCIMI S.A.
ABI BANCO SANTANDER S.A.
RIO ANHEUSER-BUSCH INBEV SA/NV
LDO RIO TINTO PLC
SNP LEONARDO SPA
ARGX PETROM S.A.
SHL ARGEN-X SE
ULA SIEMENS HEALTHINEERS AG
KBX UNIBAIL-RODAMCO-WESTFIELD SE STAPLED SECS CONS OF 1 SH UNIBAIL RODAMCO + 1 SH WFD UNIB ROD
NEXI KNORR-BREMSE AG
FDJ NEXI S.P.A.
SHEL LA FRANCAISE DES JEUX SA
P911 SHELL PLC
DSFIR DR. ING. H.C. F. PORSCHE AKTIENGESELLSCHAFT
ARM KONINKLIJKE DSM N.V.
TEN ARM HOLDINGS PLC
SYENS TENARIS S.A.
AAL SYENSQO
ANGLO AMERICAN PLC
- Jacob Mekhael
UCB 1H25 earnings beat driven by Bimzelx, raises FY25 guidance
UCB's growth continues with 1H25 earnings increasing to € 3.49b, beating CSS expectations by approx. 8%. We note that Bimzelx performed significantly higher vs. expectations bringing in € 799m (CSS: € 615m) continuing its solid growth momentum. The company updated its FY25 guidance to revenue of at least € 7b based on a strong outlook for the remainder of the year. We reiterate our €214 TP and Accumulate.
- ING Helpdesk
Benelux Morning Notes
AB InBev: 2Q25 results. Air France-KLM: Nice beat, let's see how FY25 finishes. AMG: Uptrend continues in 2Q25 with 23% EBITDA beat and guidance up to +US$200m. Aperam: Slight 2Q25 EBITDA beat, 3Q25 seen down QoQ. Arcadis: EBITA margin held up well in 2Q25, order intake mixed. Ayvens: 2Q25 results. Azelis: Soft but largely in-line 2Q25 with EMEA offsetting weaker APAC. Bekaert: 1H25 miss and lowered outlook to result in c.5% consensus downside. Corbion: Taking it to the wire. dsm...
APAML APERAM SA
FAGR FAGRON SA
UCB UCB S.A.
AF AIR FRANCE-KLM SA
ARCAD ARCADIS NV
AMG AMG ADVANCED METALLURGICAL GROUP N.V.
ONTEX ONTEX GROUP N.V.
CSM CORBION NV
ABI ANHEUSER-BUSCH INBEV SA/NV
ALD ALD SA
AZE AZELIS GROUP NV
SHEL SHELL PLC
FLOW FLOW TRADERS LTD
DSFIR KONINKLIJKE DSM N.V.
SYENS SYENSQO
- Jacob Mekhael
argenx Vyvgart 2Q25 sales show solid CSS beat
argenx reported another strong quarter with Vyvgart sales coming in at $ 949m, beating CSS by approx. 10%. argenx reached operating profitability for the 4th consecutive quarter, and is on track for FY25 profitability. Pipeline timelines are reiterated and we look ahead to the upcoming readouts in seronegative gMG (2H25), as well as PoC results in lupus nephritis (Vyvgart, 4Q25) and delayed graft function (empa, 2H25). ARGX-119 R&D day set for 16 September. Accumulate/ € 670 TP reiterated.
- Hilde Van Boxstael
- Jacob Mekhael
- Michiel Declercq
- Thibault Leneeuw
- Thomas Couvreur
- Wim Hoste
- Wim Lewi
argenx Reports Half Year 2025 Financial Results and Provides Second Qu...
argenx Reports Half Year 2025 Financial Results and Provides Second Quarter Business Update $949 million in second quarter global product net sales VYVGART SC launch in CIDP progresses with more than 2,500 patients on treatment globally ARGX-119 to advance to registrational study in CMS following positive proof of concept data; three additional topline data readouts across pipeline remain on track for second half of 2025 Management to host conference call today at 2:30 PM CET (8:30 AM ET) July 31, 2025 7:00 AM CET Amsterdam, the Netherlands – argenx SE (Euronext & Nasdaq: ARGX), a gl...
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