Investors focused on the Medical space have likely heard of Aldeyra Therapeutics (ALDX), but is the stock performing well in comparison to the rest of its sector peers? Let's take a closer look at the stock's year-to-date performance to find out.
Aldeyra Therapeutics is one of 901 companies in the Medical group. The Medical group currently sits at #10 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 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. ALDX is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for ALDX's full-year earnings has moved 9.96% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Our latest available data shows that ALDX has returned about 18.76% since the start of the calendar year. Meanwhile, the Medical sector has returned an average of 0.80% on a year-to-date basis. This means that Aldeyra Therapeutics is outperforming the sector as a whole this year.
Breaking things down more, ALDX is a member of the Medical - Drugs industry, which includes 170 individual companies and currently sits at #182 in the Zacks Industry Rank. Stocks in this group have lost about 6.33% so far this year, so ALDX is performing better this group in terms of year-to-date returns.
Investors in the Medical sector will want to keep a close eye on ALDX as it attempts to continue its solid performance.
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Aldeyra Therapeutics, Inc. (ALDX): Free Stock Analysis Report
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.