Yahoo Finance Has Adverum Biotechnologies (ADVM) Outpaced Other Medical Stocks This Year?
Investors interested in Medical stocks should always be looking to find the best-performing companies in the group. Has Adverum Biotechnologies (ADVM) been one of those stocks this year? 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.
Adverum Biotechnologies is one of 1051 individual stocks in the Medical sector. Collectively, these companies sit at #4 in the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
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. Adverum Biotechnologies is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for ADVM's full-year earnings has moved 40.7% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the most recent data, ADVM has returned 50.6% so far this year. Meanwhile, the Medical sector has returned an average of 0.3% on a year-to-date basis. This means that Adverum Biotechnologies is performing better than its sector in terms of year-to-date returns.
Another stock in the Medical sector, Aurora Cannabis Inc. (ACB), has outperformed the sector so far this year. The stock's year-to-date return is 31.9%.
In Aurora Cannabis Inc.'s case, the consensus EPS estimate for the current year increased 46.7% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Adverum Biotechnologies belongs to the Medical - Biomedical and Genetics industry, which includes 506 individual stocks and currently sits at #77 in the Zacks Industry Rank. On average, stocks in this group have lost 8.8% this year, meaning that ADVM is performing better in terms of year-to-date returns.
In contrast, Aurora Cannabis Inc. falls under the Medical - Products industry. Currently, this industry has 91 stocks and is ranked #149. Since the beginning of the year, the industry has moved +0.4%.
Adverum Biotechnologies and Aurora Cannabis 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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Adverum Biotechnologies, Inc. (ADVM) : Free Stock Analysis Report
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