Is Summit Therapeutics (SMMT) Stock Outpacing Its Medical Peers This Year?
Investors interested in Medical stocks should always be looking to find the best-performing companies in the group. Summit Therapeutics (SMMT) 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? A quick glance at the company's year-to-date performance in comparison to the rest of the Medical sector should help us answer this question.
Summit Therapeutics is a member of the Medical sector. This group includes 895 individual stocks and currently holds a Zacks Sector Rank of #1. 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. SMMT is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for SMMT's full-year earnings has moved 3.76% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Our latest available data shows that SMMT has returned about 60.63% since the start of the calendar year. Meanwhile, the Medical sector has returned an average of -9.95% on a year-to-date basis. This means that Summit Therapeutics is outperforming the sector as a whole this year.
Looking more specifically, SMMT belongs to the Medical - Drugs industry, which includes 173 individual stocks and currently sits at #23 in the Zacks Industry Rank. This group has lost an average of 18.56% so far this year, so SMMT is performing better in this area.
Investors in the Medical sector will want to keep a close eye on SMMT as it attempts to continue its solid performance.
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