Is Arcutis Biotherapeutics (ARQT) Outperforming 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 Arcutis Biotherapeutics, Inc. (ARQT) 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.
Arcutis Biotherapeutics, Inc. is a member of our Medical group, which includes 1067 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 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. Arcutis Biotherapeutics, Inc. is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for ARQT's full-year earnings has moved 3.4% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
According to our latest data, ARQT has moved about 218.3% on a year-to-date basis. Meanwhile, stocks in the Medical group have gained about 6.2% on average. As we can see, Arcutis Biotherapeutics, 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 Athira Pharma, Inc. (ATHA). The stock is up 58.4% year-to-date.
The consensus estimate for Athira Pharma, Inc.'s current year EPS has increased 6.4% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Arcutis Biotherapeutics, Inc. belongs to the Medical - Biomedical and Genetics industry, a group that includes 515 individual stocks and currently sits at #79 in the Zacks Industry Rank. This group has gained an average of 1.3% so far this year, so ARQT is performing better in this area. Athira Pharma, Inc. is also part of the same industry.
Investors interested in the Medical sector may want to keep a close eye on Arcutis Biotherapeutics, Inc. and Athira Pharma, Inc. as they attempt to continue their solid performance.
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