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Anika Therapeutics Inc. (ANIK) - free report >>
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Anika Therapeutics Inc. (ANIK) - free report >>
Achilles Therapeutics PLC Sponsored ADR (ACHL) - free report >>
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Is Anika Therapeutics (ANIK) Stock Outpacing Its Medical Peers This Year?
The Medical group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Anika Therapeutics (ANIK - Free Report) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out.
Anika Therapeutics is one of 1181 companies in the Medical group. The Medical group currently sits at #6 within the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
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. Anika Therapeutics is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for ANIK's full-year earnings has moved 41.9% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the latest available data, ANIK has gained about 4.7% so far this year. Meanwhile, the Medical sector has returned an average of -16.1% on a year-to-date basis. As we can see, Anika Therapeutics is performing better than its sector in the calendar year.
Another stock in the Medical sector, Achilles Therapeutics PLC Sponsored ADR (ACHL - Free Report) , has outperformed the sector so far this year. The stock's year-to-date return is 31.1%.
For Achilles Therapeutics PLC Sponsored ADR, the consensus EPS estimate for the current year has increased 1.3% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, Anika Therapeutics belongs to the Medical - Biomedical and Genetics industry, a group that includes 559 individual companies and currently sits at #69 in the Zacks Industry Rank. On average, this group has lost an average of 17.7% so far this year, meaning that ANIK is performing better in terms of year-to-date returns. Achilles Therapeutics PLC Sponsored ADR is also part of the same industry.
Investors with an interest in Medical stocks should continue to track Anika Therapeutics and Achilles Therapeutics PLC Sponsored ADR. These stocks will be looking to continue their solid performance.