Yahoo Finance Are Medical Stocks Lagging Ligand Pharmaceuticals (LGND) This Year?
For those looking to find strong Medical stocks, it is prudent to search for companies in the group that are outperforming their peers. Ligand Pharmaceuticals (LGND) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? 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.
Ligand Pharmaceuticals is a member of the Medical sector. This group includes 1049 individual stocks and currently holds a Zacks Sector Rank of #5. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
The Zacks Rank is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. Ligand Pharmaceuticals is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for LGND's full-year earnings has moved 17.2% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the latest available data, LGND has gained about 12.5% so far this year. Meanwhile, stocks in the Medical group have gained about 3.1% on average. This shows that Ligand Pharmaceuticals is outperforming its peers so far this year.
Another Medical stock, which has outperformed the sector so far this year, is Adverum Biotechnologies (ADVM). The stock has returned 30.3% year-to-date.
Over the past three months, Adverum Biotechnologies' consensus EPS estimate for the current year has increased 40.7%. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, Ligand Pharmaceuticals is a member of the Medical - Biomedical and Genetics industry, which includes 506 individual companies and currently sits at #86 in the Zacks Industry Rank. This group has lost an average of 4.5% so far this year, so LGND is performing better in this area. Adverum Biotechnologies is also part of the same industry.
Investors with an interest in Medical stocks should continue to track Ligand Pharmaceuticals and Adverum Biotechnologies. These stocks will be looking to continue their solid performance.
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Ligand Pharmaceuticals Incorporated (LGND) : Free Stock Analysis Report
Adverum Biotechnologies, Inc. (ADVM) : Free Stock Analysis Report
