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Is Summit Therapeutics (SMMT) Outperforming Other Medical Stocks This Year?

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The Medical group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Summit Therapeutics (SMMT - Free Report) one of those stocks right now? By taking a look at the stock's year-to-date performance in comparison to its Medical peers, we might be able to answer that question.

Summit Therapeutics is one of 890 companies in the Medical group. The Medical group currently sits at #1 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 proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. SMMT is currently sporting a Zacks Rank of #2 (Buy).

Within the past quarter, the Zacks Consensus Estimate for SMMT's full-year earnings has moved 37.10% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.

According to our latest data, SMMT has moved about 125.63% on a year-to-date basis. At the same time, Medical stocks have lost an average of 3.22%. This means that Summit Therapeutics is performing better than its sector in terms of year-to-date returns.

Looking more specifically, SMMT belongs to the Medical - Drugs industry, a group that includes 171 individual stocks and currently sits at #16 in the Zacks Industry Rank. Stocks in this group have lost about 10.06% so far this year, so SMMT is performing better this group in terms of year-to-date returns.

Investors in the Medical sector will want to keep a close eye on SMMT as it attempts to continue its solid performance.

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