Investors interested in Medical stocks should always be looking to find the best-performing companies in the group. Adagene Inc. Sponsored ADR (ADAG) 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 a member of our Medical group, which includes 1022 different companies and currently sits at #3 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. Adagene Inc. Sponsored ADR is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for ADAG's full-year earnings has moved 4.9% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
According to our latest data, ADAG has moved about 11.3% on a year-to-date basis. Meanwhile, stocks in the Medical group have gained about 1.1% on average. As we can see, Adagene Inc. Sponsored ADR is performing better than its sector in the calendar year.
Another Medical stock, which has outperformed the sector so far this year, is ANI Pharmaceuticals (ANIP). The stock has returned 1.5% 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).
Looking more specifically, Adagene Inc. Sponsored ADR belongs to the Medical - Biomedical and Genetics industry, a group that includes 502 individual stocks and currently sits at #62 in the Zacks Industry Rank. This group has lost an average of 6.9% so far this year, so ADAG is performing better in this area. ANI Pharmaceuticals is also part of the same industry.
Adagene Inc. Sponsored ADR and ANI Pharmaceuticals could continue their solid performance, so investors interested in Medical stocks should continue to pay close attention to these stocks.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
