Investors interested in Medical stocks should always be looking to find the best-performing companies in the group. Is Alkermes (ALKS) one of those stocks right now? By taking a look at the stock’s year-to-date performance in comparison to its Medical peers, we might be able to answer that question.
Alkermes is one of 1185 companies in the Medical group. The Medical group currently sits at #8 within the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
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. Alkermes is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for ALKS’ full-year earnings has moved 13% higher within the past quarter. This means that analyst sentiment is stronger and the stock’s earnings outlook is improving.
Based on the latest available data, ALKS has gained about 24.1% so far this year. At the same time, Medical stocks have lost an average of 14.5%. As we can see, Alkermes is performing better than its sector in the calendar year.
Another stock in the Medical sector, Actinium Pharmaceuticals (ATNM), has outperformed the sector so far this year. The stock’s year-to-date return is 0.3%.
The consensus estimate for Actinium Pharmaceuticals’ current year EPS has increased 126.7% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, Alkermes is a member of the Medical – Biomedical and Genetics industry, which includes 551 individual companies and currently sits at #143 in the Zacks Industry Rank. On average, this group has lost an average of 24.5% so far this year, meaning that ALKS is performing better in terms of year-to-date returns.
On the other hand, Actinium Pharmaceuticals belongs to the Medical – Drugs industry. This 231-stock industry is currently ranked #148. The industry has moved -26.9% year to date.
Investors interested in the Medical sector may want to keep a close eye on Alkermes and Actinium Pharmaceuticals as they attempt to continue their solid performance.
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