Is AVROBIO (AVRO) Stock Outpacing Its Medical Peers This Year?
The Medical group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has AVROBIO, Inc. (AVRO) been one of those stocks this year? 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 1090 companies in the Medical group. The Medical group currently sits at #2 within 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 model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. 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 34.9% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the latest available data, AVRO has gained about 114.6% so far this year. At the same time, Medical stocks have lost an average of 8.7%. This shows that AVROBIO, Inc. is outperforming its peers so far this year.
Another stock in the Medical sector, Crinetics Pharmaceuticals, Inc. (CRNX), has outperformed the sector so far this year. The stock's year-to-date return is 61.3%.
In Crinetics Pharmaceuticals, Inc.'s case, the consensus EPS estimate for the current year increased 3.7% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, AVROBIO, Inc. belongs to the Medical - Biomedical and Genetics industry, a group that includes 529 individual companies and currently sits at #65 in the Zacks Industry Rank. On average, stocks in this group have lost 19.9% this year, meaning that AVRO is performing better in terms of year-to-date returns.
In contrast, Crinetics Pharmaceuticals, Inc. falls under the Medical - Drugs industry. Currently, this industry has 193 stocks and is ranked #92. Since the beginning of the year, the industry has moved -13.9%.
AVROBIO, Inc. and Crinetics Pharmaceuticals, 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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