Investors interested in Medical stocks should always be looking to find the best-performing companies in the group. Has Arcellx, Inc. (ACLX) been one of those stocks this year? 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.
Arcellx, Inc. is one of 890 companies in the Medical group. The Medical group currently sits at #6 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 system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. Arcellx, Inc. is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for ACLX's full-year earnings has moved 1.5% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the most recent data, ACLX has returned 76.4% so far this year. Meanwhile, stocks in the Medical group have lost about 8% on average. This means that Arcellx, Inc. is outperforming the sector as a whole this year.
Astellas Pharma Inc. (ALPMY) is another Medical stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 16.1%.
Over the past three months, Astellas Pharma Inc.'s consensus EPS estimate for the current year has increased 15.2%. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, Arcellx, Inc. belongs to the Medical - Biomedical and Genetics industry, a group that includes 435 individual stocks and currently sits at #94 in the Zacks Industry Rank. On average, this group has lost an average of 0.7% so far this year, meaning that ACLX is performing better in terms of year-to-date returns.
On the other hand, Astellas Pharma Inc. belongs to the Medical - Drugs industry. This 133-stock industry is currently ranked #78. The industry has moved -0.8% year to date.
Arcellx, Inc. and Astellas Pharma Inc. could continue their solid performance, so investors interested in Medical stocks should continue to pay close attention to these stocks.
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This article originally published on Zacks Investment Research (zacks.com).
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
