Why Argenx (ARGX) Might be Well Poised for a Surge

Argenex SE (ARGX) could be a solid choice for investors given the company's remarkably improving earnings outlook. While the stock has been a strong performer lately, this trend might continue since analysts are still raising their earnings estimates for the company.The upward trend in estimate revisions for this company reflects growing optimism of analysts on its earnings prospects, which should get reflected in its stock price. After all, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements. This insight is at the core of our stock rating tool -- the Zacks Rank.The five-grade Zacks Rank system, which ranges from a Zacks Rank #1 (Strong Buy) to a Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record of outperformance, with Zacks #1 Ranked stocks generating an average annual return of +25% since 2008.For Argenx, there has been strong agreement among the covering analysts in raising earnings estimates, which has helped push consensus estimates considerably higher for the next quarter and full year.Current-Quarter Estimate RevisionsThe earnings estimate of $1.08 per share for the current quarter represents a change of +164.29% from the number reported a year ago.Over the last 30 days, the Zacks Consensus Estimate for Argenx has increased 250.66% because eight estimates have moved higher while one has gone lower.Current-Year Estimate RevisionsThe company is expected to earn $2.21 per share for the full year, which represents a change of +142.83% from the prior-year number.In terms of estimate revisions, the trend for the current year also appears quite encouraging for Argenx. Over the past month, seven estimates have moved higher compared to no negative revisions, helping the consensus estimate increase 695.95%.Favorable Zacks RankThanks to promising estimate revisions, Argenx currently carries a Zacks Rank #2 (Buy). The Zacks Rank is a tried-and-tested rating tool that helps investors effectively harness the power of earnings estimate revisions and make the right investment decision. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.Our research shows that stocks with Zacks Rank #1 (Strong Buy) and 2 (Buy) significantly outperform the S&P 500.Bottom LineWhile strong estimate revisions for Argenx have attracted decent investments and pushed the stock 12.6% higher over the past four weeks, further upside may still be left in the stock. So, you may consider adding it to your portfolio right away.Research Chief Names "Single Best Pick to Double"From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.Free: See Our Top Stock And 4 Runners UpWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report argenex SE (ARGX): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks