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Is AVEO Pharmaceuticals (AVEO) Stock Outpacing Its Medical Peers 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. AVEO Pharmaceuticals (AVEO) 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? 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.

AVEO Pharmaceuticals is one of 1184 individual stocks in the Medical sector. Collectively, these companies sit at #6 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 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. AVEO Pharmaceuticals is currently sporting a Zacks Rank of #2 (Buy).

The Zacks Consensus Estimate for AVEO's full-year earnings has moved 25.7% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.

Our latest available data shows that AVEO has returned about 73.6% since the start of the calendar year. At the same time, Medical stocks have lost an average of 22.6%. This shows that AVEO Pharmaceuticals is outperforming its peers so far this 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 96.9%.

Over the past three months, Trevi Therapeutics, Inc.'s consensus EPS estimate for the current year has increased 24.5%. The stock currently has a Zacks Rank #2 (Buy).

Looking more specifically, AVEO Pharmaceuticals belongs to the Medical - Biomedical and Genetics industry, a group that includes 557 individual stocks and currently sits at #84 in the Zacks Industry Rank. On average, stocks in this group have lost 25.6% this year, meaning that AVEO is performing better in terms of year-to-date returns. Trevi Therapeutics, Inc. is also part of the same industry.

AVEO Pharmaceuticals and Trevi Therapeutics, 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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