Has Black Diamond Therapeutics (BDTX) Outpaced Other Medical Stocks This Year?

Investors interested in Medical stocks should always be looking to find the best-performing companies in the group. Is Black Diamond (BDTX) one of those stocks right now? 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.Black Diamond is a member of the Medical sector. This group includes 972 individual stocks and currently holds a Zacks Sector Rank of #8. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.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. Black Diamond is currently sporting a Zacks Rank of #1 (Strong Buy).Over the past three months, the Zacks Consensus Estimate for BDTX's full-year earnings has moved 37.3% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.Based on the latest available data, BDTX has gained about 53.3% so far this year. Meanwhile, stocks in the Medical group have lost about 1.9% on average. This means that Black Diamond is outperforming the sector as a whole this year.One other Medical stock that has outperformed the sector so far this year is Cidara Therapeutics (CDTX). The stock is up 155.6% year-to-date.Over the past three months, Cidara Therapeutics' consensus EPS estimate for the current year has increased 9.7%. The stock currently has a Zacks Rank #2 (Buy).Looking more specifically, Black Diamond belongs to the Medical - Biomedical and Genetics industry, a group that includes 483 individual stocks and currently sits at #101 in the Zacks Industry Rank. On average, stocks in this group have gained 4.4% this year, meaning that BDTX is performing better in terms of year-to-date returns. Cidara Therapeutics is also part of the same industry.Investors with an interest in Medical stocks should continue to track Black Diamond and Cidara Therapeutics. These stocks will be looking to continue their solid performance.Free Report: 3 Software Stocks Poised to SkyrocketSoftware stocks are poised to catapult higher in the coming months (and years) thanks to several factors, especially the explosive growth of AI. Zacks' urgent report reveals 3 top software stocks to own right now.Access the report free today >>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 Black Diamond Therapeutics, Inc. (BDTX): Free Stock Analysis Report Cidara Therapeutics, Inc. (CDTX): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks