Is Akero Therapeutics (AKRO) Outperforming 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. Has Akero Therapeutics, Inc. (AKRO) 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.
Akero Therapeutics, Inc. is one of 1143 individual stocks in the Medical sector. Collectively, these companies sit at #6 in the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
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. Akero Therapeutics, Inc. is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for AKRO's full-year earnings has moved 19% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
According to our latest data, AKRO has moved about 1% on a year-to-date basis. At the same time, Medical stocks have lost an average of 2.5%. This means that Akero Therapeutics, Inc. is performing better than its sector in terms of year-to-date returns.
Another stock in the Medical sector, Accelerate Diagnostics (AXDX), has outperformed the sector so far this year. The stock's year-to-date return is 45.9%.
The consensus estimate for Accelerate Diagnostics' current year EPS has increased 11.9% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Akero Therapeutics, Inc. belongs to the Medical - Biomedical and Genetics industry, which includes 551 individual stocks and currently sits at #112 in the Zacks Industry Rank. On average, this group has lost an average of 6.8% so far this year, meaning that AKRO is performing better in terms of year-to-date returns.
On the other hand, Accelerate Diagnostics belongs to the Medical - Instruments industry. This 94-stock industry is currently ranked #119. The industry has moved +3.9% year to date.
Akero Therapeutics, Inc. and Accelerate Diagnostics could continue their solid performance, so investors interested in Medical stocks should continue to pay close attention to these stocks.
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