Are Medical Stocks Lagging Amarin (AMRN) This Year?
Investors interested in Medical stocks should always be looking to find the best-performing companies in the group. Amarin (AMRN) 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? Let's take a closer look at the stock's year-to-date performance to find out.
Amarin is one of 1077 companies in the Medical group. The Medical group currently sits at #4 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 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. Amarin is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for AMRN's full-year earnings has moved 2.6% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the latest available data, AMRN has gained about 34.5% so far this year. Meanwhile, the Medical sector has returned an average of 0.4% on a year-to-date basis. As we can see, Amarin is performing better than its sector in the calendar year.
One other Medical stock that has outperformed the sector so far this year is Arcutis Biotherapeutics, Inc. (ARQT). The stock is up 14.6% year-to-date.
The consensus estimate for Arcutis Biotherapeutics, Inc.'s current year EPS has increased 32.5% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, Amarin belongs to the Medical - Biomedical and Genetics industry, a group that includes 523 individual stocks and currently sits at #66 in the Zacks Industry Rank. On average, this group has lost an average of 12.3% so far this year, meaning that AMRN is performing better in terms of year-to-date returns. Arcutis Biotherapeutics, Inc. is also part of the same industry.
Amarin and Arcutis Biotherapeutics, 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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Amarin Corporation PLC (AMRN) : Free Stock Analysis Report
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