argenex SE (ARGX – Free Report) shares ended the last trading session 4.1% higher at $604.96. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock’s 10.8% loss over the past four weeks.
The stock rallied as optimism grew over the company’s marketed product, Vyvgart Hytrulo (efgartigimod), which is approved for treating adult patients with generalized myasthenia gravis (gMG) and chronic inflammatory demyelinating polyneuropathy (CIDP). The company is also evaluating efgartigimod in multiple serious autoimmune diseases.
This company is expected to post quarterly earnings of $2.18 per share in its upcoming report, which represents a year-over-year change of +309.6%. Revenues are expected to be $781.17 million, up 89.4% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Argenx, the consensus EPS estimate for the quarter has been revised 7% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on ARGX going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks Rank #1 (Strong Buy) stocks here >>>>
Argenx is a member of the Zacks Medical – Biomedical and Genetics industry. One other stock in the same industry, Stoke Therapeutics, Inc. (STOK – Free Report) , finished the last trading session 6% higher at $8.60. STOK has returned -23.7% over the past month.
Stoke Therapeutics’ consensus EPS estimate for the upcoming report has changed -1.9% over the past month to -$0.51. Compared to the company’s year-ago EPS, this represents a change of +15%. Stoke Therapeutics currently boasts a Zacks Rank of #3 (Hold).
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