For those looking to find strong Medical stocks, it is prudent to search for companies in the group that are outperforming their peers. Is Amylyx Pharmaceuticals, Inc. (AMLX) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out.
Amylyx Pharmaceuticals, Inc. is one of 955 individual stocks in the Medical sector. Collectively, these companies sit at #4 in the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. Amylyx Pharmaceuticals, Inc. is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for AMLX's full-year earnings has moved 6.9% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the latest available data, AMLX has gained about 278.6% so far this year. Meanwhile, the Medical sector has returned an average of 2.1% on a year-to-date basis. As we can see, Amylyx Pharmaceuticals, Inc. is performing better than its sector in the calendar year.
Another Medical stock, which has outperformed the sector so far this year, is Aveanna Healthcare (AVAH). The stock has returned 99.6% year-to-date.
For Aveanna Healthcare, the consensus EPS estimate for the current year has increased 304.1% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, Amylyx Pharmaceuticals, Inc. belongs to the Medical - Drugs industry, a group that includes 146 individual stocks and currently sits at #66 in the Zacks Industry Rank. Stocks in this group have gained about 7.5% so far this year, so AMLX is performing better this group in terms of year-to-date returns.
In contrast, Aveanna Healthcare falls under the Medical - Outpatient and Home Healthcare industry. Currently, this industry has 15 stocks and is ranked #36. Since the beginning of the year, the industry has moved +10.2%.
Investors with an interest in Medical stocks should continue to track Amylyx Pharmaceuticals, Inc. and Aveanna Healthcare. These stocks will be looking to continue their solid performance.
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Amylyx Pharmaceuticals, Inc. (AMLX): Free Stock Analysis Report Aveanna Healthcare Holdings Inc. (AVAH): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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