Is Atea Pharmaceuticals (AVIR) Stock Outpacing Its Medical Peers This Year?

The Medical group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Atea Pharmaceuticals, Inc. (AVIR) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out.Atea Pharmaceuticals, Inc. is one of 1023 companies in the Medical group. The Medical group currently sits at #3 within 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. Atea Pharmaceuticals, Inc. is currently sporting a Zacks Rank of #2 (Buy).Within the past quarter, the Zacks Consensus Estimate for AVIR's full-year earnings has moved 21% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.Our latest available data shows that AVIR has returned about 6.6% since the start of the calendar year. Meanwhile, the Medical sector has returned an average of -0.2% on a year-to-date basis. This means that Atea Pharmaceuticals, Inc. is outperforming the sector as a whole this year.One other Medical stock that has outperformed the sector so far this year is Butterfly Network, Inc. (BFLY). The stock is up 204.6% year-to-date.Over the past three months, Butterfly Network, Inc.'s consensus EPS estimate for the current year has increased 6.8%. The stock currently has a Zacks Rank #2 (Buy).Looking more specifically, Atea Pharmaceuticals, Inc. belongs to the Medical - Biomedical and Genetics industry, which includes 504 individual stocks and currently sits at #63 in the Zacks Industry Rank. This group has lost an average of 8.2% so far this year, so AVIR is performing better in this area.In contrast, Butterfly Network, Inc. falls under the Medical Info Systems industry. Currently, this industry has 42 stocks and is ranked #39. Since the beginning of the year, the industry has moved -16.2%.Investors with an interest in Medical stocks should continue to track Atea Pharmaceuticals, Inc. and Butterfly Network, Inc. These stocks will be looking to continue their solid performance.5 Stocks Set to DoubleEach was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2024. While not all picks can be winners, previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>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 Atea Pharmaceuticals, Inc. (AVIR): Free Stock Analysis Report Butterfly Network, Inc. (BFLY): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks