For those looking to find strong Medical stocks, it is prudent to search for companies in the group that are outperforming their peers. CanFite Biopharma Ltd (CANF) 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? 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.
CanFite Biopharma Ltd is a member of the Medical sector. This group includes 1160 individual stocks and currently holds a Zacks Sector Rank of #7. 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 proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. CanFite Biopharma Ltd is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for CANF’s full-year earnings has moved 78.1% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Our latest available data shows that CANF has returned about 1.6% since the start of the calendar year. Meanwhile, the Medical sector has returned an average of -12.7% on a year-to-date basis. This means that CanFite Biopharma Ltd is performing better than its sector in terms of year-to-date returns.
Cellectar Biosciences, Inc. (CLRB) is another Medical stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 5.3%.
The consensus estimate for Cellectar Biosciences, Inc.’s current year EPS has increased 7.1% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, CanFite Biopharma Ltd is a member of the Medical – Drugs industry, which includes 230 individual companies and currently sits at #96 in the Zacks Industry Rank. This group has lost an average of 25.3% so far this year, so CANF is performing better in this area.
In contrast, Cellectar Biosciences, Inc. falls under the Medical – Products industry. Currently, this industry has 91 stocks and is ranked #177. Since the beginning of the year, the industry has moved -6.6%.
CanFite Biopharma Ltd and Cellectar Biosciences, 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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