For those looking to find strong Medical stocks, it is prudent to search for companies in the group that are outperforming their peers. Celldex Therapeutics (CLDX) 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.
Celldex Therapeutics is a member of our Medical group, which includes 914 different companies and currently sits at #7 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. Celldex Therapeutics is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for CLDX's full-year earnings has moved 10.5% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the latest available data, CLDX has gained about 30.4% so far this year. Meanwhile, stocks in the Medical group have lost about 0.1% on average. This shows that Celldex Therapeutics is outperforming its peers so far this year.
Another stock in the Medical sector, Illumina (ILMN), has outperformed the sector so far this year. The stock's year-to-date return is 50.1%.
Over the past three months, Illumina's consensus EPS estimate for the current year has increased 1.8%. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Celldex Therapeutics belongs to the Medical - Biomedical and Genetics industry, which includes 438 individual stocks and currently sits at #91 in the Zacks Industry Rank. On average, this group has gained an average of 2% so far this year, meaning that CLDX is performing better in terms of year-to-date returns. Illumina is also part of the same industry.
Investors interested in the Medical sector may want to keep a close eye on Celldex Therapeutics and Illumina as they attempt to continue their solid performance.
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Celldex Therapeutics, Inc. (CLDX): Free Stock Analysis Report
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This article originally published on Zacks Investment Research (zacks.com).