For those looking to find strong Medical stocks, it is prudent to search for companies in the group that are outperforming their peers. Has Eagle Pharmaceuticals (EGRX) 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.
Eagle Pharmaceuticals is a member of our Medical group, which includes 1159 different companies and currently sits at #14 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 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. Eagle Pharmaceuticals is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for EGRX’s full-year earnings has moved 114.6% higher. This means that analyst sentiment is stronger and the stock’s earnings outlook is improving.
Our latest available data shows that EGRX has returned about 0.5% since the start of the calendar year. In comparison, Medical companies have returned an average of -11.2%. This means that Eagle Pharmaceuticals is performing better than its sector in terms of year-to-date returns.
Another Medical stock, which has outperformed the sector so far this year, is Eiger BioPharmaceuticals (EIGR). The stock has returned 1.5% year-to-date.
In Eiger BioPharmaceuticals’ case, the consensus EPS estimate for the current year increased 10.8% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Eagle Pharmaceuticals belongs to the Medical – Products industry, a group that includes 91 individual stocks and currently sits at #174 in the Zacks Industry Rank. This group has lost an average of 12% so far this year, so EGRX is performing better in this area.
In contrast, Eiger BioPharmaceuticals falls under the Medical – Biomedical and Genetics industry. Currently, this industry has 539 stocks and is ranked #163. Since the beginning of the year, the industry has moved -19.7%.
Going forward, investors interested in Medical stocks should continue to pay close attention to Eagle Pharmaceuticals and Eiger BioPharmaceuticals as they could maintain their solid performance.
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