Is Arbutus Biopharma (ABUS) Outperforming Other Medical Stocks This Year?
Investors focused on the Medical space have likely heard of Arbutus Biopharma (ABUS), but is the stock performing well in comparison to the rest of its sector peers? Let's take a closer look at the stock's year-to-date performance to find out.
Arbutus Biopharma is one of 901 companies in the Medical group. The Medical group currently sits at #8 within the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
The Zacks Rank is a successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. ABUS is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for ABUS's full-year earnings has moved 23.79% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Our latest available data shows that ABUS has returned about 36.69% since the start of the calendar year. In comparison, Medical companies have returned an average of 1.87%. This means that Arbutus Biopharma is performing better than its sector in terms of year-to-date returns.
To break things down more, ABUS belongs to the Medical - Biomedical and Genetics industry, a group that includes 393 individual companies and currently sits at #118 in the Zacks Industry Rank. On average, stocks in this group have gained 5.95% this year, meaning that ABUS is performing better in terms of year-to-date returns.
Going forward, investors interested in Medical stocks should continue to pay close attention to ABUS as it looks to continue its 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
Arbutus Biopharma Corporation (ABUS) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
