Biotech firm Argenx shot to an all-time high Tuesday. The gain comes amid brisk profit and sales growth for the biotech-drug maker, including a better-than-expected 664% surge in Q2 EPS on July 31, to $3.74 per share. The gain came on a 98% advance in revenue to $967.2 million.
Additionally, the IBD SmartSelect Composite Rating for Argenx stock rose from 94 to a near best 96 Tuesday, out of a best-possible 99. The upgraded rating puts Argenx in the top 4% of all stocks. The Composite score combines five separate proprietary ratings into one.
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Argenx Joins Stock Winners Circle
Winning stocks often have a 95 or higher Composite grade in the early stages of a new price run, so that's an important benchmark to look for when looking for the best stocks to buy and watch. Argenx just qualified for that elite stock group.
Netherlands-based Argenx develops treatments for autoimmune diseases and cancer. Its primary product in the U.S. is Vyvgart, a treatment for chronic inflammatory demyelinating polyneuropathy, a rare autoimmune disease that causes progressive weakness in the arms and legs.
Argenx sports an 82 EPS Rating, which means its recent quarterly and annual earnings growth is outpacing 82% of all stocks. Its 79 Relative Strength Rating is just below the 80 RS Rating that The IBD Methodology investors look for.
Its Accumulation/Distribution Rating is B-, showing that institutional investors like ETFs and mutual funds are buying more of its stock than selling.
Heading into Tuesday trading, Argenx was about 3% above a 678.21 entry from a consolidation. Stocks within 5% above a proper buy point are in the buy zone.
Argenx earns the No. 8 rank among its peers in the 688-stock Medical-Biomed/Biotech industry group. The group itself ranks a lofty No. 20 among the 197 industry groups that IBD tracks.
Aurinia Pharmaceuticals, Halozyme Therapeutics and Rigel Pharmaceuticals are among the top five highly-rated stocks in the group.
This article was created automatically with Stats Perform's Wordsmith software using data and article templates supplied by Investor's Business Daily. An IBD journalist may have edited the article.
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