Is ChemoCentryx (CCXI) Stock Outpacing Its Medical Peers This Year?
For those looking to find strong Medical stocks, it is prudent to search for companies in the group that are outperforming their peers. Has ChemoCentryx (CCXI) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
ChemoCentryx is a member of our Medical group, which includes 1193 different companies and currently sits at #5 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 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. ChemoCentryx is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for CCXI's full-year earnings has moved 5.8% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the most recent data, CCXI has returned 42.5% so far this year. Meanwhile, stocks in the Medical group have lost about 20.8% on average. This shows that ChemoCentryx is outperforming its peers so far this year.
One other Medical stock that has outperformed the sector so far this year is Eiger BioPharmaceuticals (EIGR). The stock is up 35.3% year-to-date.
In Eiger BioPharmaceuticals' case, the consensus EPS estimate for the current year increased 6.3% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, ChemoCentryx belongs to the Medical - Drugs industry, a group that includes 218 individual companies and currently sits at #70 in the Zacks Industry Rank. This group has lost an average of 26.1% so far this year, so CCXI is performing better in this area.
On the other hand, Eiger BioPharmaceuticals belongs to the Medical - Biomedical and Genetics industry. This 564-stock industry is currently ranked #58. The industry has moved -24.4% year to date.
Investors interested in the Medical sector may want to keep a close eye on ChemoCentryx and Eiger BioPharmaceuticals as they attempt to continue their solid performance.
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