Is ACADIA Pharmaceuticals (ACAD) Stock Outpacing Its Medical Peers This Year?
For those looking to find strong Medical stocks, it is prudent to search for companies in the group that are outperforming their peers. Is Acadia Pharmaceuticals (ACAD) one of those stocks right now? A quick glance at the company's year-to-date performance in comparison to the rest of the Medical sector should help us answer this question.
Acadia Pharmaceuticals is a member of our Medical group, which includes 1119 different companies and currently sits at #8 in 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. Acadia Pharmaceuticals is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for ACAD's full-year earnings has moved 46.8% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
According to our latest data, ACAD has moved about 96.4% on a year-to-date basis. Meanwhile, stocks in the Medical group have lost about 0.6% on average. This means that Acadia Pharmaceuticals is performing better than its sector in terms of year-to-date returns.
Another stock in the Medical sector, Abbott (ABT), has outperformed the sector so far this year. The stock's year-to-date return is 1.9%.
In Abbott's case, the consensus EPS estimate for the current year increased 0.1% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, Acadia Pharmaceuticals is a member of the Medical - Biomedical and Genetics industry, which includes 537 individual companies and currently sits at #119 in the Zacks Industry Rank. Stocks in this group have lost about 7.8% so far this year, so ACAD is performing better this group in terms of year-to-date returns.
On the other hand, Abbott belongs to the Medical - Products industry. This 99-stock industry is currently ranked #116. The industry has moved +7.5% year to date.
Investors interested in the Medical sector may want to keep a close eye on Acadia Pharmaceuticals and Abbott as they attempt to continue their solid performance.
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ACADIA Pharmaceuticals Inc. (ACAD) : Free Stock Analysis Report
Abbott Laboratories (ABT) : Free Stock Analysis Report
