Are Medical Stocks Lagging Arcellx (ACLX) This Year?
Investors interested in Medical stocks should always be looking to find the best-performing companies in the group. Arcellx, Inc. (ACLX) 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? By taking a look at the stock's year-to-date performance in comparison to its Medical peers, we might be able to answer that question.
Arcellx, Inc. is a member of our Medical group, which includes 1091 different companies and currently sits at #4 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 successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. Arcellx, Inc. is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for ACLX's full-year earnings has moved 2.4% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the most recent data, ACLX has returned 11% so far this year. At the same time, Medical stocks have lost an average of 10.9%. As we can see, Arcellx, Inc. is performing better than its sector in the calendar year.
One other Medical stock that has outperformed the sector so far this year is Ardelyx (ARDX). The stock is up 38.3% year-to-date.
In Ardelyx's case, the consensus EPS estimate for the current year increased 4.2% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Arcellx, Inc. belongs to the Medical - Biomedical and Genetics industry, a group that includes 529 individual stocks and currently sits at #77 in the Zacks Industry Rank. On average, stocks in this group have lost 22.5% this year, meaning that ACLX is performing better in terms of year-to-date returns.
In contrast, Ardelyx falls under the Medical - Drugs industry. Currently, this industry has 193 stocks and is ranked #92. Since the beginning of the year, the industry has moved -18.7%.
Investors interested in the Medical sector may want to keep a close eye on Arcellx, Inc. and Ardelyx as they attempt to continue their solid performance.
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