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Is Celldex Therapeutics (CLDX) Stock Outpacing Its Medical Peers This Year?

Zacks Equity Research

Investors focused on the Medical space have likely heard of Celldex Therapeutics (CLDX), but is the stock performing well in comparison to the rest of its sector peers? 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.

Celldex Therapeutics is one of 889 companies in the Medical group. The Medical group currently sits at #1 within the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.

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. CLDX is currently sporting a Zacks Rank of #2 (Buy).

The Zacks Consensus Estimate for CLDX's full-year earnings has moved 8.87% higher within the past quarter. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.

According to our latest data, CLDX has moved about 20.63% on a year-to-date basis. At the same time, Medical stocks have lost an average of 1.66%. This shows that Celldex Therapeutics is outperforming its peers so far this year.

Looking more specifically, CLDX belongs to the Medical - Biomedical and Genetics industry, a group that includes 382 individual stocks and currently sits at #16 in the Zacks Industry Rank. On average, stocks in this group have gained 8.25% this year, meaning that CLDX is performing better in terms of year-to-date returns.

CLDX will likely be looking to continue its solid performance, so investors interested in Medical stocks should continue to pay close attention to the company.


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