The Medical group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has AVEO Pharmaceuticals (AVEO) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
AVEO Pharmaceuticals is a member of the Medical sector. This group includes 1184 individual stocks and currently holds a Zacks Sector Rank of #6. 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 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. AVEO Pharmaceuticals is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for AVEO's full-year earnings has moved 11.3% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the most recent data, AVEO has returned 73.1% so far this year. In comparison, Medical companies have returned an average of -19.2%. As we can see, AVEO Pharmaceuticals is performing better than its sector in the calendar year.
Trevi Therapeutics, Inc. (TRVI) is another Medical stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 298.9%.
The consensus estimate for Trevi Therapeutics, Inc.'s current year EPS has increased 20.9% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, AVEO Pharmaceuticals belongs to the Medical - Biomedical and Genetics industry, a group that includes 557 individual companies and currently sits at #73 in the Zacks Industry Rank. Stocks in this group have lost about 22.8% so far this year, so AVEO is performing better this group in terms of year-to-date returns. Trevi Therapeutics, Inc. is also part of the same industry.
Going forward, investors interested in Medical stocks should continue to pay close attention to AVEO Pharmaceuticals and Trevi Therapeutics, Inc. as they could maintain their solid performance.
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