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Is Anavex Life Sciences (AVXL) Outperforming Other Medical Stocks This Year?

Zacks Equity Research
·2 min read

Investors interested in Medical stocks should always be looking to find the best-performing companies in the group. Is Anavex Life Sciences (AVXL) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out.

Anavex Life Sciences is a member of our Medical group, which includes 1144 different companies and currently sits at #6 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.

The Zacks Rank is a successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. Anavex Life Sciences is currently sporting a Zacks Rank of #2 (Buy).

Over the past three months, the Zacks Consensus Estimate for AVXL's full-year earnings has moved 18.1% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.

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Based on the most recent data, AVXL has returned 1.3% so far this year. At the same time, Medical stocks have lost an average of 3.4%. This shows that Anavex Life Sciences is outperforming its peers so far this year.

Another stock in the Medical sector, Clene Inc. (CLNN), has outperformed the sector so far this year. The stock's year-to-date return is 6%.

For Clene Inc. the consensus EPS estimate for the current year has increased 13.1% over the past three months. The stock currently has a Zacks Rank #2 (Buy).

Looking more specifically, Anavex Life Sciences belongs to the Medical - Biomedical and Genetics industry, which includes 552 individual stocks and currently sits at #97 in the Zacks Industry Rank. This group has lost an average of 7% so far this year, so AVXL is performing better in this area. Clene Inc. is also part of the same industry.

Investors interested in the Medical sector may want to keep a close eye on Anavex Life Sciences and Clene Inc. as they attempt to continue their solid performance.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

Anavex Life Sciences Corp. (AVXL) : Free Stock Analysis Report

Clene Inc. (CLNN) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research