The Medical group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has Acumen Pharmaceuticals, Inc. (ABOS) been one of those stocks this year? 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.
Acumen Pharmaceuticals, Inc. is one of 913 individual stocks in the Medical sector. Collectively, these companies sit at #6 in 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. Acumen Pharmaceuticals, Inc. is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for ABOS' full-year earnings has moved 5.9% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the latest available data, ABOS has gained about 2.8% so far this year. Meanwhile, stocks in the Medical group have gained about 1.2% on average. This shows that Acumen Pharmaceuticals, Inc. is outperforming its peers so far this year.
Amarin (AMRN) is another Medical stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 2%.
The consensus estimate for Amarin's current year EPS has increased 92.7% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, Acumen Pharmaceuticals, Inc. belongs to the Medical - Biomedical and Genetics industry, which includes 438 individual stocks and currently sits at #84 in the Zacks Industry Rank. On average, this group has gained an average of 3.3% so far this year, meaning that ABOS is slightly underperforming its industry in terms of year-to-date returns. Amarin is also part of the same industry.
Acumen Pharmaceuticals, Inc. and Amarin could continue their solid performance, so investors interested in Medical stocks should continue to pay close attention to these stocks.
Zacks' Research Chief Names "Stock Most Likely to Double"
Our team of experts has just released the 5 stocks with the greatest probability of gaining +100% or more in the coming months. Of those 5, Director of Research Sheraz Mian highlights the one stock set to climb highest.
This top pick is a little-known satellite-based communications firm. Space is projected to become a trillion dollar industry, and this company's customer base is growing fast. Analysts have forecasted a major revenue breakout in 2025. Of course, all our elite picks aren't winners but this one could far surpass earlier Zacks' Stocks Set to Double like Hims & Hers Health, which shot up +209%.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Keep it Clean. Please avoid obscene, vulgar, lewd,
racist or sexually-oriented language. PLEASE TURN OFF YOUR CAPS LOCK. Don't Threaten. Threats of harming another
person will not be tolerated. Be Truthful. Don't knowingly lie about anyone
or anything. Be Nice. No racism, sexism or any sort of -ism
that is degrading to another person. Be Proactive. Use the 'Report' link on
each comment to let us know of abusive posts. Share with Us. We'd love to hear eyewitness
accounts, the history behind an article.
(0) comments
Welcome to the discussion.
Log In
Keep it Clean. Please avoid obscene, vulgar, lewd, racist or sexually-oriented language.
PLEASE TURN OFF YOUR CAPS LOCK.
Don't Threaten. Threats of harming another person will not be tolerated.
Be Truthful. Don't knowingly lie about anyone or anything.
Be Nice. No racism, sexism or any sort of -ism that is degrading to another person.
Be Proactive. Use the 'Report' link on each comment to let us know of abusive posts.
Share with Us. We'd love to hear eyewitness accounts, the history behind an article.