Has Acumen Pharmaceuticals (ABOS) Outpaced Other Medical Stocks This Year?
The Medical group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Acumen Pharmaceuticals, Inc. (ABOS) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? 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.
Acumen Pharmaceuticals, Inc. is one of 1065 individual stocks in the Medical sector. Collectively, these companies sit at #6 in 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 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. Acumen Pharmaceuticals, Inc. is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for ABOS' full-year earnings has moved 3.2% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the latest available data, ABOS has gained about 8.6% so far this year. In comparison, Medical companies have returned an average of 7.1%. As we can see, Acumen Pharmaceuticals, Inc. is performing better than its sector in the calendar year.
Akoya Biosciences (AKYA) is another Medical stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 16%.
The consensus estimate for Akoya Biosciences' current year EPS has increased 15.1% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, Acumen Pharmaceuticals, Inc. belongs to the Medical - Biomedical and Genetics industry, a group that includes 515 individual companies and currently sits at #87 in the Zacks Industry Rank. This group has gained an average of 3% so far this year, so ABOS is performing better in this area. Akoya Biosciences is also part of the same industry.
Investors interested in the Medical sector may want to keep a close eye on Acumen Pharmaceuticals, Inc. and Akoya Biosciences as they attempt to continue their solid performance.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Acumen Pharmaceuticals, Inc. (ABOS) : Free Stock Analysis Report
Akoya Biosciences, Inc. (AKYA) : Free Stock Analysis Report
