Are Medical Stocks Lagging Aldeyra Therapeutics (ALDX) This Year?

The Medical group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has Aldeyra Therapeutics, Inc. (ALDX) been one of those stocks this year? 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.

Aldeyra Therapeutics, 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 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 is a successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. Aldeyra Therapeutics, Inc. is currently sporting a Zacks Rank of #2 (Buy).

Within the past quarter, the Zacks Consensus Estimate for ALDX's full-year earnings has moved 4.5% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.

Based on the latest available data, ALDX has gained about 4.8% so far this year. Meanwhile, stocks in the Medical group have gained about 0.5% on average. As we can see, Aldeyra Therapeutics, Inc. is performing better than its sector in the calendar year.

Another stock in the Medical sector, ANI Pharmaceuticals (ANIP), has outperformed the sector so far this year. The stock's year-to-date return is 1.3%.

For ANI Pharmaceuticals, the consensus EPS estimate for the current year has increased 6.2% over the past three months. The stock currently has a Zacks Rank #2 (Buy).

To break things down more, Aldeyra Therapeutics, Inc. belongs to the Medical - Drugs industry, a group that includes 141 individual companies and currently sits at #159 in the Zacks Industry Rank. Stocks in this group have gained about 1.6% so far this year, so ALDX is performing better this group in terms of year-to-date returns.

ANI Pharmaceuticals, however, belongs to the Medical - Biomedical and Genetics industry. Currently, this 449-stock industry is ranked #94. The industry has moved -4.4% so far this year.

Going forward, investors interested in Medical stocks should continue to pay close attention to Aldeyra Therapeutics, Inc. and ANI Pharmaceuticals as they could maintain their solid performance.

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

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