The Medical group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has Aldeyra Therapeutics, Inc. (ALDX) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Aldeyra Therapeutics, Inc. is one of 925 companies in the Medical group. The Medical group currently sits at #9 within the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
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. Aldeyra Therapeutics, Inc. is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for ALDX's full-year earnings has moved 19.4% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the latest available data, ALDX has gained about 6% so far this year. In comparison, Medical companies have returned an average of 1.8%. This shows that Aldeyra Therapeutics, Inc. is outperforming its peers so far this year.
Another Medical stock, which has outperformed the sector so far this year, is Iovance Biotherapeutics (IOVA). The stock has returned 40.3% year-to-date.
Over the past three months, Iovance Biotherapeutics' consensus EPS estimate for the current year has increased 16.4%. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, Aldeyra Therapeutics, Inc. belongs to the Medical - Drugs industry, a group that includes 140 individual companies and currently sits at #138 in the Zacks Industry Rank. On average, this group has gained an average of 4% so far this year, meaning that ALDX is performing better in terms of year-to-date returns.
In contrast, Iovance Biotherapeutics falls under the Medical - Biomedical and Genetics industry. Currently, this industry has 447 stocks and is ranked #87. Since the beginning of the year, the industry has moved +9%.
Going forward, investors interested in Medical stocks should continue to pay close attention to Aldeyra Therapeutics, Inc. and Iovance Biotherapeutics as they could maintain their solid performance.
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Aldeyra Therapeutics, Inc. (ALDX): Free Stock Analysis Report Iovance Biotherapeutics, Inc. (IOVA): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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