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Is Adagene (ADAG) Stock Outpacing Its Medical Peers This Year?
Investors interested in Medical stocks should always be looking to find the best-performing companies in the group. Adagene Inc. Sponsored ADR (ADAG - Free Report) 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? 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.
Adagene Inc. Sponsored ADR is one of 1023 individual stocks in the Medical sector. Collectively, these companies sit at #3 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 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. Adagene Inc. Sponsored ADR is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for ADAG's full-year earnings has moved 4.9% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the latest available data, ADAG has gained about 14.9% so far this year. Meanwhile, the Medical sector has returned an average of -1.7% on a year-to-date basis. This means that Adagene Inc. Sponsored ADR is outperforming the sector as a whole this year.
One other Medical stock that has outperformed the sector so far this year is ANI Pharmaceuticals (ANIP - Free Report) . The stock is up 1% year-to-date.
The consensus estimate for ANI Pharmaceuticals' current year EPS has increased 10.5% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, Adagene Inc. Sponsored ADR is a member of the Medical - Biomedical and Genetics industry, which includes 504 individual companies and currently sits at #63 in the Zacks Industry Rank. This group has lost an average of 9.4% so far this year, so ADAG is performing better in this area. ANI Pharmaceuticals is also part of the same industry.
Investors interested in the Medical sector may want to keep a close eye on Adagene Inc. Sponsored ADR and ANI Pharmaceuticals as they attempt to continue their solid performance.