Has AVROBIO (AVRO) Outpaced Other Medical Stocks This Year?
The Medical group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is AVROBIO, Inc. (AVRO) one of those stocks right now? 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.
AVROBIO, Inc. is one of 1094 companies in the Medical group. The Medical group currently sits at #6 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. AVROBIO, Inc. is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for AVRO's full-year earnings has moved 135.7% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
According to our latest data, AVRO has moved about 113.2% on a year-to-date basis. At the same time, Medical stocks have lost an average of 7.1%. As we can see, AVROBIO, Inc. is performing better than its sector in the calendar year.
Brainsway Ltd. Sponsored ADR (BWAY) is another Medical stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 72.5%.
Over the past three months, Brainsway Ltd. Sponsored ADR's consensus EPS estimate for the current year has increased 17.4%. The stock currently has a Zacks Rank #1 (Strong Buy).
Breaking things down more, AVROBIO, Inc. is a member of the Medical - Biomedical and Genetics industry, which includes 530 individual companies and currently sits at #90 in the Zacks Industry Rank. This group has lost an average of 16.1% so far this year, so AVRO is performing better in this area.
On the other hand, Brainsway Ltd. Sponsored ADR belongs to the Medical - Products industry. This 94-stock industry is currently ranked #92. The industry has moved -8.3% year to date.
Investors with an interest in Medical stocks should continue to track AVROBIO, Inc. and Brainsway Ltd. Sponsored ADR. These stocks will be looking to continue their solid performance.
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