Has Endocyte (ECYT) Outpaced Other Medical Stocks 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. Endocyte (ECYT) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? 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.
Endocyte is a member of our Medical group, which includes 761 different companies and currently sits at #6 in 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 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. ECYT is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for ECYT's full-year earnings has moved 7.59% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Our latest available data shows that ECYT has returned about 299.53% since the start of the calendar year. Meanwhile, the Medical sector has returned an average of 2.81% on a year-to-date basis. As we can see, Endocyte is performing better than its sector in the calendar year.
To break things down more, ECYT belongs to the Medical - Drugs industry, a group that includes 163 individual companies and currently sits at #152 in the Zacks Industry Rank. On average, this group has gained an average of 5.16% so far this year, meaning that ECYT is performing better in terms of year-to-date returns.
Investors in the Medical sector will want to keep a close eye on ECYT as it attempts to continue its solid performance.
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Endocyte, Inc. (ECYT) : Free Stock Analysis Report
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