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For those looking to find strong Medical stocks, it is prudent to search for companies in the group that are outperforming their peers. ASLAN Pharmaceuticals (ASLN) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? One simple way to answer this question is to take a look at the year-to-date performance of ASLN and the rest of the Medical group's stocks.
ASLAN Pharmaceuticals is a member of our Medical group, which includes 909 different companies and currently sits at #3 in the Zacks Sector Rank. 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. ASLN is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for ASLN's full-year earnings has moved 26.61% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the latest available data, ASLN has gained about 6.40% so far this year. Meanwhile, the Medical sector has returned an average of -0.70% on a year-to-date basis. This shows that ASLAN Pharmaceuticals is outperforming its peers so far this year.
Looking more specifically, ASLN belongs to the Medical - Biomedical and Genetics industry, a group that includes 389 individual stocks and currently sits at #57 in the Zacks Industry Rank. On average, this group has lost an average of 1.44% so far this year, meaning that ASLN is performing better in terms of year-to-date returns.
Investors with an interest in Medical stocks should continue to track ASLN. The stock will be looking to continue its solid performance.