Is Editas Medicine (EDIT) Stock Outpacing Its Medical Peers This Year?

For those looking to find strong Medical stocks, it is prudent to search for companies in the group that are outperforming their peers. Editas Medicine (EDIT) 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? By taking a look at the stock's year-to-date performance in comparison to its Medical peers, we might be able to answer that question.Editas Medicine is one of 1001 individual stocks in the Medical sector. Collectively, these companies sit at #5 in the Zacks Sector Rank. 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 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. Editas Medicine is currently sporting a Zacks Rank of #2 (Buy).Within the past quarter, the Zacks Consensus Estimate for EDIT's full-year earnings has moved 7.8% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.Based on the latest available data, EDIT has gained about 21.3% so far this year. Meanwhile, stocks in the Medical group have lost about 4.2% on average. This means that Editas Medicine is performing better than its sector in terms of year-to-date returns.Another Medical stock, which has outperformed the sector so far this year, is Arbutus Biopharma (ABUS). The stock has returned 2.5% year-to-date.In Arbutus Biopharma's case, the consensus EPS estimate for the current year increased 42.7% over the past three months. The stock currently has a Zacks Rank #2 (Buy).Breaking things down more, Editas Medicine is a member of the Medical - Biomedical and Genetics industry, which includes 508 individual companies and currently sits at #85 in the Zacks Industry Rank. On average, this group has lost an average of 6.4% so far this year, meaning that EDIT is performing better in terms of year-to-date returns. Arbutus Biopharma is also part of the same industry.Investors interested in the Medical sector may want to keep a close eye on Editas Medicine and Arbutus Biopharma as they attempt to continue their solid performance.Only $1 to See All Zacks' Buys and SellsWe're not kidding.Several years ago, we shocked our members by offering them 30-day access to all our picks for the total sum of only $1. No obligation to spend another cent.Thousands have taken advantage of this opportunity. Thousands did not - they thought there must be a catch. Yes, we do have a reason. We want you to get acquainted with our portfolio services like Surprise Trader, Stocks Under $10, Technology Innovators,and more, that closed 256 positions with double- and triple-digit gains in 2024 alone.See Stocks Now >>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 Editas Medicine, Inc. (EDIT): Free Stock Analysis Report Arbutus Biopharma Corporation (ABUS): 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