For those looking to find strong Medical stocks, it is prudent to search for companies in the group that are outperforming their peers. Is Biohaven Ltd. (BHVN) 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.
Biohaven Ltd. is one of 928 companies in the Medical group. The Medical group currently sits at #10 within 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 successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. Biohaven Ltd. is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for BHVN's full-year earnings has moved 24.5% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the latest available data, BHVN has gained about 13.2% so far this year. Meanwhile, the Medical sector has returned an average of 1.2% on a year-to-date basis. As we can see, Biohaven Ltd. is performing better than its sector in the calendar year.
One other Medical stock that has outperformed the sector so far this year is Caribou Biosciences, Inc. (CRBU). The stock is up 2.5% year-to-date.
For Caribou Biosciences, Inc., the consensus EPS estimate for the current year has increased 4.3% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, Biohaven Ltd. is a member of the Medical - Biomedical and Genetics industry, which includes 449 individual companies and currently sits at #86 in the Zacks Industry Rank. On average, this group has gained an average of 6.8% so far this year, meaning that BHVN is performing better in terms of year-to-date returns. Caribou Biosciences, Inc. is also part of the same industry.
Going forward, investors interested in Medical stocks should continue to pay close attention to Biohaven Ltd. and Caribou Biosciences, Inc. as they could maintain their solid performance.
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Biohaven Ltd. (BHVN): Free Stock Analysis Report Caribou Biosciences, Inc. (CRBU): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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