Is Connect Biopharma Holdings (CNTB) Outperforming Other Medical Stocks This Year?
Investors interested in Medical stocks should always be looking to find the best-performing companies in the group. Has Connect Biopharma Holdings Limited Sponsored ADR (CNTB) 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.
Connect Biopharma Holdings Limited Sponsored ADR is one of 1091 individual stocks in the Medical sector. Collectively, these companies sit at #4 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 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. Connect Biopharma Holdings Limited Sponsored ADR is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for CNTB's full-year earnings has moved 19% 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, CNTB has moved about 74% on a year-to-date basis. At the same time, Medical stocks have lost an average of 9%. As we can see, Connect Biopharma Holdings Limited Sponsored ADR is performing better than its sector in the calendar year.
Another Medical stock, which has outperformed the sector so far this year, is CRISPR Therapeutics AG (CRSP). The stock has returned 25.4% year-to-date.
For CRISPR Therapeutics AG, the consensus EPS estimate for the current year has increased 26.9% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, Connect Biopharma Holdings Limited Sponsored ADR belongs to the Medical - Biomedical and Genetics industry, a group that includes 529 individual companies and currently sits at #69 in the Zacks Industry Rank. On average, stocks in this group have lost 19.8% this year, meaning that CNTB is performing better in terms of year-to-date returns. CRISPR Therapeutics AG is also part of the same industry.
Investors interested in the Medical sector may want to keep a close eye on Connect Biopharma Holdings Limited Sponsored ADR and CRISPR Therapeutics AG as they attempt to continue their solid performance.
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Connect Biopharma Holdings Limited Sponsored ADR (CNTB) : Free Stock Analysis Report
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