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Is Absci Corporation (ABSI) Outperforming Other Medical Stocks This Year?

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Investors interested in Medical stocks should always be looking to find the best-performing companies in the group. Is Absci Corporation (ABSI - 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.

Absci Corporation is a member of our Medical group, which includes 1073 different companies and currently sits at #7 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. Absci Corporation is currently sporting a Zacks Rank of #2 (Buy).

The Zacks Consensus Estimate for ABSI's full-year earnings has moved 3.6% higher within the past quarter. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.

According to our latest data, ABSI has moved about 5.5% on a year-to-date basis. At the same time, Medical stocks have gained an average of 3.6%. As we can see, Absci Corporation is performing better than its sector in the calendar year.

One other Medical stock that has outperformed the sector so far this year is Novo Nordisk (NVO - Free Report) . The stock is up 9.9% year-to-date.

For Novo Nordisk, the consensus EPS estimate for the current year has increased 9.9% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).

Looking more specifically, Absci Corporation belongs to the Medical - Biomedical and Genetics industry, which includes 520 individual stocks and currently sits at #97 in the Zacks Industry Rank. On average, this group has gained an average of 0.8% so far this year, meaning that ABSI is performing better in terms of year-to-date returns.

In contrast, Novo Nordisk falls under the Large Cap Pharmaceuticals industry. Currently, this industry has 11 stocks and is ranked #163. Since the beginning of the year, the industry has moved +6.9%.

Absci Corporation and Novo Nordisk could continue their solid performance, so investors interested in Medical stocks should continue to pay close attention to these stocks.

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