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Is Dynavax Technologies (DVAX) 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. Is Dynavax Technologies (DVAX) 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.

Dynavax Technologies is one of 1087 companies in the Medical group. The Medical group currently sits at #2 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 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. Dynavax Technologies is currently sporting a Zacks Rank of #2 (Buy).

Over the past 90 days, the Zacks Consensus Estimate for DVAX's full-year earnings has moved 49.3% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.

Based on the latest available data, DVAX has gained about 26.7% so far this year. At the same time, Medical stocks have lost an average of 7.6%. As we can see, Dynavax Technologies is performing better than its sector in the calendar year.

Another stock in the Medical sector, Exscientia PLC Sponsored ADR (EXAI), has outperformed the sector so far this year. The stock's year-to-date return is 9.6%.

The consensus estimate for Exscientia PLC Sponsored ADR's current year EPS has increased 7.6% over the past three months. The stock currently has a Zacks Rank #2 (Buy).

Breaking things down more, Dynavax Technologies is a member of the Medical - Biomedical and Genetics industry, which includes 528 individual companies and currently sits at #44 in the Zacks Industry Rank. This group has lost an average of 22.2% so far this year, so DVAX is performing better in this area.

In contrast, Exscientia PLC Sponsored ADR falls under the Medical - Drugs industry. Currently, this industry has 192 stocks and is ranked #64. Since the beginning of the year, the industry has moved -11.8%.

Dynavax Technologies and Exscientia PLC Sponsored ADR could continue their solid performance, so investors interested in Medical stocks should continue to pay close attention to these stocks.

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Zacks Investment Research