Investors focused on the Medical space have likely heard of Abeona Therapeutics (ABEO), but is the stock performing well in comparison to the rest of its sector peers? 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.
Abeona 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 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. ABEO is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for ABEO's full-year earnings has moved 44.98% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Our latest available data shows that ABEO has returned about 0.92% since the start of the calendar year. Meanwhile, the Medical sector has returned an average of -1.64% on a year-to-date basis. This means that Abeona Therapeutics is performing better than its sector in terms of year-to-date returns.
Breaking things down more, ABEO is a member of the Medical - Biomedical and Genetics industry, which includes 382 individual companies and currently sits at #17 in the Zacks Industry Rank. On average, this group has gained an average of 7.11% so far this year, meaning that ABEO is slightly underperforming its industry in terms of year-to-date returns.
ABEO will likely be looking to continue its solid performance, so investors interested in Medical stocks should continue to pay close attention to the company.
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Abeona Therapeutics Inc. (ABEO) : Free Stock Analysis Report
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