WallStSmart

Apellis Pharmaceuticals Inc (APLS)vsargenx NV ADR (ARGX)

VS

Smart Verdict

WallStSmart Research — data-driven comparison

argenx NV ADR generates 381% more annual revenue ($5.32B vs $1.11B). ARGX leads profitability with a 32.3% profit margin vs 12.1%. APLS trades at a lower P/E of 38.3x. ARGX earns a higher WallStSmart Score of 73/100 (B).

APLS

Buy

50

out of 100

Grade: C-

Growth: 8.0Profit: 7.5Value: 6.3Quality: 5.5
Piotroski: 5/9Altman Z: -2.39

ARGX

Strong Buy

73

out of 100

Grade: B

Growth: 10.0Profit: 9.5Value: 6.7Quality: 8.5
Piotroski: 3/9Altman Z: 4.92
IV

Intrinsic Value Comparison

Multi-model valuation · Graham Formula

APLSUndervalued (+88.5%)

Margin of Safety

+88.5%

Fair Value

$194.37

Current Price

$41.03

$153.34 discount

UndervaluedFair: $194.37Overvalued
ARGXUndervalued (+64.8%)

Margin of Safety

+64.8%

Fair Value

$2371.09

Current Price

$984.39

$1386.70 discount

UndervaluedFair: $2371.09Overvalued

Key Strengths & Concerns

Side-by-side fundamental analysis

Key Strengths

APLS2 strengths · Avg: 10.0/10
Return on EquityProfitability
33.2%10/10

Every $100 of equity generates 33 in profit

Revenue GrowthGrowth
60.9%10/10

Revenue surging 60.9% year-over-year

ARGX6 strengths · Avg: 10.0/10
Return on EquityProfitability
30.8%10/10

Every $100 of equity generates 31 in profit

Profit MarginProfitability
32.3%10/10

Keeps 32 of every $100 in revenue as profit

Operating MarginProfitability
32.0%10/10

Strong operational efficiency at 32.0%

Revenue GrowthGrowth
59.3%10/10

Revenue surging 59.3% year-over-year

EPS GrowthGrowth
95.2%10/10

Earnings expanding 95.2% YoY

Debt/EquityHealth
0.0110/10

Conservative balance sheet, low leverage

Areas to Watch

APLS4 concerns · Avg: 3.8/10
P/E RatioValuation
38.3x4/10

Premium valuation, high expectations priced in

Price/BookValuation
12.7x4/10

Trading at 12.7x book value

EPS GrowthGrowth
0.0%4/10

0.0% earnings growth

Debt/EquityHealth
1.183/10

Elevated debt levels

ARGX3 concerns · Avg: 3.0/10
P/E RatioValuation
39.4x4/10

Premium valuation, high expectations priced in

Piotroski F-ScoreQuality
3/93/10

Weak financial health signals

Price/BookValuation
183.0x2/10

Trading at 183.0x book value

Comparative Analysis Report

WallStSmart Research

Bull Case : APLS

The strongest argument for APLS centers on Return on Equity, Revenue Growth. Revenue growth of 60.9% demonstrates continued momentum.

Bull Case : ARGX

The strongest argument for ARGX centers on Return on Equity, Profit Margin, Operating Margin. Profitability is solid with margins at 32.3% and operating margin at 32.0%. Revenue growth of 59.3% demonstrates continued momentum.

Bear Case : APLS

The primary concerns for APLS are P/E Ratio, Price/Book, EPS Growth.

Bear Case : ARGX

The primary concerns for ARGX are P/E Ratio, Piotroski F-Score, Price/Book.

Key Dynamics to Monitor

ARGX carries more volatility with a beta of -0.03 — expect wider price swings.

APLS is growing revenue faster at 60.9% — sustainability is the question.

ARGX generates stronger free cash flow (749M), providing more financial flexibility.

Monitor BIOTECHNOLOGY industry trends, competitive dynamics, and regulatory changes.

Bottom Line

ARGX scores higher overall (73/100 vs 50/100), backed by strong 32.3% margins and 59.3% revenue growth. APLS offers better value entry with a 88.5% margin of safety. Both earn "Strong Buy" and "Buy" ratings respectively — the choice depends on your investment horizon and risk tolerance.

This analysis is generated from publicly available financial data. Not financial advice.

Apellis Pharmaceuticals Inc

HEALTHCARE · BIOTECHNOLOGY · USA

Apellis Pharmaceuticals, Inc., a clinical-stage biopharmaceutical company, focuses on the development of therapeutic compounds through inhibition of the complement system for autoimmune and inflammatory diseases. The company is headquartered in Waltham, Massachusetts.

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argenx NV ADR

HEALTHCARE · BIOTECHNOLOGY · USA

argenx SE, a clinical-phase biotechnology company, focuses on the development of antibody-based therapies for the treatment of autoimmune diseases, hematology and cancer. The company is headquartered in Breda, the Netherlands.

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