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Is Aduro Biotech (ADRO) Outperforming Other Medical Stocks This Year?

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Investors focused on the Medical space have likely heard of Aduro Biotech , but is the stock performing well in comparison to the rest of its sector peers? Let's take a closer look at the stock's year-to-date performance to find out.

Aduro Biotech is one of 894 individual stocks in the Medical sector. Collectively, these companies sit at #1 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 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. ADRO is currently sporting a Zacks Rank of #2 (Buy).

Within the past quarter, the Zacks Consensus Estimate for ADRO's full-year earnings has moved 17.48% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.

Our latest available data shows that ADRO has returned about 172.88% since the start of the calendar year. At the same time, Medical stocks have lost an average of 5.70%. This means that Aduro Biotech is performing better than its sector in terms of year-to-date returns.

To break things down more, ADRO belongs to the Medical - Biomedical and Genetics industry, a group that includes 384 individual companies and currently sits at #20 in the Zacks Industry Rank. On average, this group has lost an average of 1.93% so far this year, meaning that ADRO is performing better in terms of year-to-date returns.

Investors with an interest in Medical stocks should continue to track ADRO. The stock will be looking to continue its solid performance.

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