Is ALX Oncology Holdings (ALXO) Stock Outpacing Its Medical Peers This Year?

Investors interested in Medical stocks should always be looking to find the best-performing companies in the group. Is ALX Oncology Holdings Inc. (ALXO) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out.

ALX Oncology Holdings Inc. is a member of the Medical sector. This group includes 928 individual stocks and currently holds a Zacks Sector Rank of #10. 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 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. ALX Oncology Holdings Inc. is currently sporting a Zacks Rank of #2 (Buy).

Over the past three months, the Zacks Consensus Estimate for ALXO's full-year earnings has moved 16.9% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.

Our latest available data shows that ALXO has returned about 81.4% since the start of the calendar year. At the same time, Medical stocks have gained an average of 5.3%. This means that ALX Oncology Holdings Inc. is outperforming the sector as a whole this year.

Another Medical stock, which has outperformed the sector so far this year, is Amneal Pharmaceuticals (AMRX). The stock has returned 15.2% year-to-date.

In Amneal Pharmaceuticals' case, the consensus EPS estimate for the current year increased 1.9% over the past three months. The stock currently has a Zacks Rank #2 (Buy).

To break things down more, ALX Oncology Holdings Inc. belongs to the Medical - Biomedical and Genetics industry, a group that includes 449 individual companies and currently sits at #90 in the Zacks Industry Rank. On average, stocks in this group have gained 23.6% this year, meaning that ALXO is performing better in terms of year-to-date returns.

On the other hand, Amneal Pharmaceuticals belongs to the Medical - Drugs industry. This 141-stock industry is currently ranked #146. The industry has moved +2.7% year to date.

Investors with an interest in Medical stocks should continue to track ALX Oncology Holdings Inc. and Amneal Pharmaceuticals. These stocks will be looking to continue their solid performance.

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This article originally published on Zacks Investment Research (zacks.com).

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