Investors interested in Medical stocks should always be looking to find the best-performing companies in the group. Is Aldeyra Therapeutics (ALDX - Free Report) one of those stocks right now? 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.
Aldeyra Therapeutics is a member of our Medical group, which includes 902 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 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. ALDX is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for ALDX's full-year earnings has moved 13.36% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
According to our latest data, ALDX has moved about 20.48% on a year-to-date basis. Meanwhile, stocks in the Medical group have gained about 1.55% on average. This means that Aldeyra Therapeutics is performing better than its sector in terms of year-to-date returns.
Breaking things down more, ALDX is a member of the Medical - Drugs industry, which includes 170 individual companies and currently sits at #199 in the Zacks Industry Rank. On average, this group has lost an average of 6.24% so far this year, meaning that ALDX is performing better in terms of year-to-date returns.
Going forward, investors interested in Medical stocks should continue to pay close attention to ALDX as it looks to continue its solid performance.