argenex SE (ARGX) shares rallied 4% in the last trading session to close at $548.49. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 6.1% gain 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 $0.08 per share in its upcoming report, which represents a year-over-year change of +106.4%. Revenues are expected to be $546.06 million, up 60.7% 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 3.4% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate 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 belongs to the Zacks Medical - Biomedical and Genetics industry. Another stock from the same industry, Bristol Myers Squibb (BMY), closed the last trading session 0.3% lower at $49.80. Over the past month, BMY has returned 7.4%.

For Bristol Myers , the consensus EPS estimate for the upcoming report has changed -0.2% over the past month to $1.58. This represents a change of -21% from what the company reported a year ago. Bristol Myers currently has a Zacks Rank of #3 (Hold).

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