Is Allakos (ALLK) Stock Outpacing Its Medical Peers This Year?
Investors interested in Medical stocks should always be looking to find the best-performing companies in the group. Is Allakos Inc. (ALLK) one of those stocks right now? 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.
Allakos Inc. is a member of our Medical group, which includes 1077 different companies and currently sits at #5 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 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. Allakos Inc. is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for ALLK's full-year earnings has moved 0.2% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Our latest available data shows that ALLK has returned about 9.5% since the start of the calendar year. In comparison, Medical companies have returned an average of 0%. This means that Allakos Inc. is outperforming the sector as a whole this year.
Another Medical stock, which has outperformed the sector so far this year, is McKesson (MCK). The stock has returned 4.8% year-to-date.
Over the past three months, McKesson's consensus EPS estimate for the current year has increased 0.2%. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Allakos Inc. belongs to the Medical - Biomedical and Genetics industry, a group that includes 523 individual stocks and currently sits at #86 in the Zacks Industry Rank. On average, stocks in this group have lost 12% this year, meaning that ALLK is performing better in terms of year-to-date returns.
In contrast, McKesson falls under the Medical - Dental Supplies industry. Currently, this industry has 15 stocks and is ranked #168. Since the beginning of the year, the industry has moved +15.5%.
Allakos Inc. and McKesson could continue their solid performance, so investors interested in Medical stocks should continue to pay close attention to these stocks.
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Allakos Inc. (ALLK) : Free Stock Analysis Report
McKesson Corporation (MCK) : Free Stock Analysis Report
