The Medical group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. AbCellera Biologics Inc. (ABCL) 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.
AbCellera Biologics Inc. is one of 884 individual stocks in the Medical sector. Collectively, these companies sit at #6 in 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 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. AbCellera Biologics Inc. is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for ABCL's full-year earnings has moved 25.1% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
According to our latest data, ABCL has moved about 80.4% on a year-to-date basis. Meanwhile, stocks in the Medical group have lost about 5.2% on average. This means that AbCellera Biologics Inc. is outperforming the sector as a whole this year.
One other Medical stock that has outperformed the sector so far this year is C4 Therapeutics, Inc. (CCCC). The stock is up 128.8% year-to-date.
For C4 Therapeutics, Inc., the consensus EPS estimate for the current year has increased 14.8% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, AbCellera Biologics Inc. belongs to the Medical - Biomedical and Genetics industry, which includes 430 individual stocks and currently sits at #149 in the Zacks Industry Rank. This group has gained an average of 0.3% so far this year, so ABCL is performing better in this area. C4 Therapeutics, Inc. is also part of the same industry.
AbCellera Biologics Inc. and C4 Therapeutics, Inc. could continue their solid performance, so investors interested in Medical stocks should continue to pay close attention to these stocks.
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AbCellera Biologics Inc. (ABCL): Free Stock Analysis Report
C4 Therapeutics, Inc. (CCCC): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).