The Medical group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Arcutis Biotherapeutics, Inc. (ARQT) one of those stocks right now? By taking a look at the stock's year-to-date performance in comparison to its Medical peers, we might be able to answer that question.
Arcutis Biotherapeutics, Inc. is one of 973 individual stocks in the Medical sector. Collectively, these companies sit at #8 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
The Zacks Rank is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. Arcutis Biotherapeutics, Inc. is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for ARQT's full-year earnings has moved 20.9% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Our latest available data shows that ARQT has returned about 13.6% since the start of the calendar year. At the same time, Medical stocks have lost an average of 2.5%. This shows that Arcutis Biotherapeutics, Inc. is outperforming its peers so far this year.
One other Medical stock that has outperformed the sector so far this year is Foghorn Therapeutics Inc. (FHTX). The stock is up 17.2% year-to-date.
In Foghorn Therapeutics Inc.'s case, the consensus EPS estimate for the current year increased 1.5% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Arcutis Biotherapeutics, Inc. belongs to the Medical - Biomedical and Genetics industry, which includes 486 individual stocks and currently sits at #159 in the Zacks Industry Rank. On average, this group has gained an average of 3.2% so far this year, meaning that ARQT is performing better in terms of year-to-date returns. Foghorn Therapeutics Inc. is also part of the same industry.
Investors with an interest in Medical stocks should continue to track Arcutis Biotherapeutics, Inc. and Foghorn Therapeutics Inc.. These stocks will be looking to continue their solid performance.
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Arcutis Biotherapeutics, Inc. (ARQT): Free Stock Analysis Report Foghorn Therapeutics Inc. (FHTX): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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