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Has Aldeyra Therapeutics (ALDX) Outpaced Other Medical Stocks This Year?

Zacks Equity Research
·2 min read

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? 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.

Aldeyra Therapeutics is a member of the Medical sector. This group includes 935 individual stocks and currently holds a Zacks Sector Rank of #13. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.

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. ALDX is currently sporting a Zacks Rank of #2 (Buy).

The Zacks Consensus Estimate for ALDX's full-year earnings has moved 13.36% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.

Our latest available data shows that ALDX has returned about 22.55% since the start of the calendar year. At the same time, Medical stocks have gained an average of 1.08%. This means that Aldeyra Therapeutics is performing better than its sector in terms of year-to-date returns.

To break things down more, ALDX belongs to the Medical - Drugs industry, a group that includes 181 individual companies and currently sits at #184 in the Zacks Industry Rank. On average, stocks in this group have lost 7.77% this year, meaning that ALDX is performing better in terms of year-to-date returns.

Going forward, investors interested in Medical stocks should continue to pay close attention to ALDX as it looks to continue its solid performance.

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Zacks Investment Research