The Medical group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Acumen Pharmaceuticals, Inc. (ABOS) 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.
Acumen Pharmaceuticals, Inc. is one of 917 companies in the Medical group. The Medical group currently sits at #9 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 is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. Acumen Pharmaceuticals, Inc. is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for ABOS' full-year earnings has moved 5.9% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
According to our latest data, ABOS has moved about 19.9% on a year-to-date basis. In comparison, Medical companies have returned an average of -1.1%. As we can see, Acumen Pharmaceuticals, Inc. is performing better than its sector in the calendar year.
Another stock in the Medical sector, Amarin (AMRN), has outperformed the sector so far this year. The stock's year-to-date return is 3%.
In Amarin's case, the consensus EPS estimate for the current year increased 83.8% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Breaking things down more, Acumen Pharmaceuticals, Inc. is a member of the Medical - Biomedical and Genetics industry, which includes 440 individual companies and currently sits at #105 in the Zacks Industry Rank. On average, stocks in this group have gained 1.1% this year, meaning that ABOS is performing better in terms of year-to-date returns. Amarin is also part of the same industry.
Investors with an interest in Medical stocks should continue to track Acumen Pharmaceuticals, Inc. and Amarin. These stocks will be looking to continue their solid performance.
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Acumen Pharmaceuticals, Inc. (ABOS): Free Stock Analysis Report
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This article originally published on Zacks Investment Research (zacks.com).