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Is Allogene Therapeutics (ALLO) Outperforming Other Medical Stocks This Year?

Zacks Equity Research
·2-min read

Investors focused on the Medical space have likely heard of Allogene Therapeutics (ALLO), but is the stock performing well in comparison to the rest of its sector peers? 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.

Allogene Therapeutics is a member of our Medical group, which includes 889 different companies and currently sits at #1 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 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. ALLO is currently sporting a Zacks Rank of #2 (Buy).

Over the past three months, the Zacks Consensus Estimate for ALLO's full-year earnings has moved 12.83% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.

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According to our latest data, ALLO has moved about 93.23% on a year-to-date basis. In comparison, Medical companies have returned an average of -1.90%. This means that Allogene Therapeutics is performing better than its sector in terms of year-to-date returns.

To break things down more, ALLO belongs to the Medical - Biomedical and Genetics industry, a group that includes 382 individual companies and currently sits at #18 in the Zacks Industry Rank. This group has gained an average of 7.59% so far this year, so ALLO is performing better in this area.

Going forward, investors interested in Medical stocks should continue to pay close attention to ALLO as it looks to continue its solid performance.


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