Has Anixa Biosciences (ANIX) Outpaced Other Medical Stocks This Year?
For those looking to find strong Medical stocks, it is prudent to search for companies in the group that are outperforming their peers. Is ANIXA BIOSCIENCES INC (ANIX) one of those stocks right now? 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.
ANIXA BIOSCIENCES INC is a member of the Medical sector. This group includes 1185 individual stocks and currently holds a Zacks Sector Rank of #11. 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 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. ANIXA BIOSCIENCES INC is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for ANIX's full-year earnings has moved 1.9% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the latest available data, ANIX has gained about 9.4% so far this year. In comparison, Medical companies have returned an average of -11.5%. As we can see, ANIXA BIOSCIENCES INC is performing better than its sector in the calendar year.
One other Medical stock that has outperformed the sector so far this year is Adherex Technologies Inc. (FENC). The stock is up 31.3% year-to-date.
For Adherex Technologies Inc. the consensus EPS estimate for the current year has increased 14.3% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, ANIXA BIOSCIENCES INC is a member of the Medical - Biomedical and Genetics industry, which includes 551 individual companies and currently sits at #153 in the Zacks Industry Rank. Stocks in this group have lost about 22.1% so far this year, so ANIX is performing better this group in terms of year-to-date returns.
In contrast, Adherex Technologies Inc. falls under the Medical - Drugs industry. Currently, this industry has 231 stocks and is ranked #96. Since the beginning of the year, the industry has moved -22.1%.
ANIXA BIOSCIENCES INC and Adherex Technologies Inc. could continue their solid performance, so investors interested in Medical stocks should continue to pay close attention to these stocks.
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