Australia markets closed

    -7.30 (-0.10%)

    +0.0019 (+0.30%)
  • ASX 200

    -5.50 (-0.08%)
  • OIL

    +0.77 (+0.82%)
  • GOLD

    +0.30 (+0.02%)
  • Bitcoin AUD

    +314.97 (+0.76%)
  • CMC Crypto 200

    +4.97 (+0.88%)

Is Biohaven Ltd. (BHVN) Outperforming Other Medical Stocks This Year?

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

Biohaven Ltd. is one of 1183 individual stocks in the Medical sector. Collectively, these companies sit at #3 in the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.

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. Biohaven Ltd. is currently sporting a Zacks Rank of #2 (Buy).

The Zacks Consensus Estimate for BHVN's full-year earnings has moved 39.6% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.

According to our latest data, BHVN has moved about 5.6% on a year-to-date basis. At the same time, Medical stocks have lost an average of 14.7%. This means that Biohaven Ltd. is performing better than its sector in terms of year-to-date returns.

One other Medical stock that has outperformed the sector so far this year is Clover Health Investments, Corp. (CLOV). The stock is up 7.6% year-to-date.

For Clover Health Investments, Corp. the consensus EPS estimate for the current year has increased 21.1% over the past three months. The stock currently has a Zacks Rank #2 (Buy).

Looking more specifically, Biohaven Ltd. belongs to the Medical - Biomedical and Genetics industry, a group that includes 560 individual stocks and currently sits at #67 in the Zacks Industry Rank. This group has lost an average of 20.1% so far this year, so BHVN is performing better in this area.

On the other hand, Clover Health Investments, Corp. belongs to the Medical Info Systems industry. This 49-stock industry is currently ranked #102. The industry has moved -47% year to date.

Going forward, investors interested in Medical stocks should continue to pay close attention to Biohaven Ltd. and Clover Health Investments, Corp. as they could maintain 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

Biohaven Ltd. (BHVN) : Free Stock Analysis Report

Clover Health Investments, Corp. (CLOV) : Free Stock Analysis Report

To read this article on click here.

Zacks Investment Research