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Is Aurora Cannabis (ACB) Outperforming Other Medical Stocks This Year?
Investors interested in Medical stocks should always be looking to find the best-performing companies in the group. Is Aurora Cannabis Inc. (ACB - 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.
Aurora Cannabis Inc. is a member of our Medical group, which includes 1178 different companies and currently sits at #7 in the Zacks Sector Rank. 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 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. Aurora Cannabis Inc. is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for ACB's full-year earnings has moved 9% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
According to our latest data, ACB has moved about 5.4% on a year-to-date basis. In comparison, Medical companies have returned an average of -18.2%. This means that Aurora Cannabis Inc. is outperforming the sector as a whole this year.
Cabaletta Bio, Inc. (CABA - Free Report) is another Medical stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 23.9%.
Over the past three months, Cabaletta Bio, Inc.'s consensus EPS estimate for the current year has increased 11.5%. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, Aurora Cannabis Inc. belongs to the Medical - Products industry, which includes 103 individual stocks and currently sits at #149 in the Zacks Industry Rank. This group has lost an average of 41.9% so far this year, so ACB is performing better in this area.
In contrast, Cabaletta Bio, Inc. falls under the Medical - Biomedical and Genetics industry. Currently, this industry has 558 stocks and is ranked #87. Since the beginning of the year, the industry has moved -19.2%.
Aurora Cannabis Inc. and Cabaletta Bio, Inc. could continue their solid performance, so investors interested in Medical stocks should continue to pay close attention to these stocks.