Investors interested in Medical stocks should always be looking to find the best-performing companies in the group. Is Genmab AS Sponsored ADR (GMAB) one of those stocks right now? 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.
Genmab AS Sponsored ADR is a member of our Medical group, which includes 1187 different companies and currently sits 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. Genmab AS Sponsored ADR is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for GMAB's full-year earnings has moved 14.5% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
According to our latest data, GMAB has moved about 0.1% on a year-to-date basis. Meanwhile, the Medical sector has returned an average of -18.3% on a year-to-date basis. This means that Genmab AS 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 Nuvalent, Inc. (NUVL). The stock is up 63.1% year-to-date.
Over the past three months, Nuvalent, Inc.'s consensus EPS estimate for the current year has increased 8%. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, Genmab AS Sponsored ADR is a member of the Medical - Biomedical and Genetics industry, which includes 562 individual companies and currently sits at #66 in the Zacks Industry Rank. Stocks in this group have lost about 20% so far this year, so GMAB is performing better this group in terms of year-to-date returns. Nuvalent, Inc. is also part of the same industry.
Genmab AS Sponsored ADR and Nuvalent, Inc. could continue their solid performance, so investors interested in Medical stocks should continue to pay close attention to these stocks.
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