Is Albireo Pharma (ALBO) Outperforming Other Medical Stocks This Year?
Investors interested in Medical stocks should always be looking to find the best-performing companies in the group. Has Albireo Pharma (ALBO) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Albireo Pharma is one of 1188 companies in the Medical group. The Medical group currently sits at #5 within 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 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. Albireo Pharma is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for ALBO's full-year earnings has moved 8.1% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
According to our latest data, ALBO has moved about 7.2% on a year-to-date basis. In comparison, Medical companies have returned an average of -14.5%. This shows that Albireo Pharma is outperforming its peers so far this year.
Another stock in the Medical sector, Arcutis Biotherapeutics, Inc. (ARQT), has outperformed the sector so far this year. The stock's year-to-date return is 19.9%.
For Arcutis Biotherapeutics, Inc. the consensus EPS estimate for the current year has increased 4.1% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Albireo Pharma belongs to the Medical - Biomedical and Genetics industry, which includes 558 individual stocks and currently sits at #82 in the Zacks Industry Rank. On average, this group has lost an average of 16.6% so far this year, meaning that ALBO is performing better in terms of year-to-date returns. Arcutis Biotherapeutics, Inc. is also part of the same industry.
Investors interested in the Medical sector may want to keep a close eye on Albireo Pharma and Arcutis Biotherapeutics, Inc. 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
Albireo Pharma (ALBO) : Free Stock Analysis Report
Arcutis Biotherapeutics, Inc. (ARQT) : Free Stock Analysis Report
To read this article on Zacks.com click here.