For those looking to find strong Medical stocks, it is prudent to search for companies in the group that are outperforming their peers. Is C4 Therapeutics, Inc. (CCCC) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out.
C4 Therapeutics, Inc. is a member of our Medical group, which includes 919 different companies and currently sits at #10 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 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. C4 Therapeutics, Inc. is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for CCCC's full-year earnings has moved 14.8% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
According to our latest data, CCCC has moved about 116.8% on a year-to-date basis. In comparison, Medical companies have returned an average of 1.4%. This shows that C4 Therapeutics, Inc. is outperforming its peers so far this year.
Illumina (ILMN) is another Medical stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 48.2%.
In Illumina's case, the consensus EPS estimate for the current year increased 1.5% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, C4 Therapeutics, Inc. is a member of the Medical - Biomedical and Genetics industry, which includes 440 individual companies and currently sits at #158 in the Zacks Industry Rank. On average, stocks in this group have gained 6% this year, meaning that CCCC is performing better in terms of year-to-date returns. Illumina is also part of the same industry.
C4 Therapeutics, Inc. and Illumina could continue their solid performance, so investors interested in Medical stocks should continue to pay close attention to these stocks.
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C4 Therapeutics, Inc. (CCCC): Free Stock Analysis Report
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This article originally published on Zacks Investment Research (zacks.com).