The Medical group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Adagene Inc. Sponsored ADR (ADAG) 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.
Adagene Inc. Sponsored ADR is a member of the Medical sector. This group includes 888 individual stocks and currently holds a Zacks Sector Rank of #7. 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. Adagene Inc. Sponsored ADR is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for ADAG's full-year earnings has moved 37.3% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
According to our latest data, ADAG has moved about 100% on a year-to-date basis. At the same time, Medical stocks have lost an average of 6.6%. This means that Adagene Inc. Sponsored ADR is performing better than its sector in terms of year-to-date returns.
Contineum Therapeutics, Inc. (CTNM) is another Medical stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 14.5%.
In Contineum Therapeutics, Inc.'s case, the consensus EPS estimate for the current year increased 13% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, Adagene Inc. Sponsored ADR belongs to the Medical - Biomedical and Genetics industry, a group that includes 431 individual companies and currently sits at #146 in the Zacks Industry Rank. On average, this group has lost an average of 2.2% so far this year, meaning that ADAG is performing better in terms of year-to-date returns. Contineum Therapeutics, Inc. is also part of the same industry.
Investors with an interest in Medical stocks should continue to track Adagene Inc. Sponsored ADR and Contineum Therapeutics, Inc.. These stocks will be looking to continue their solid performance.
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Adagene Inc. Sponsored ADR (ADAG): Free Stock Analysis Report
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This article originally published on Zacks Investment Research (zacks.com).