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Investors focused on the Medical space have likely heard of Cassava Sciences (SAVA), but is the stock performing well in comparison to the rest of its sector peers? One simple way to answer this question is to take a look at the year-to-date performance of SAVA and the rest of the Medical group's stocks.
Cassava Sciences is one of 978 companies in the Medical group. The Medical group currently sits at #16 within 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 successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. SAVA is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for SAVA's full-year earnings has moved 191.43% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the most recent data, SAVA has returned 536.51% so far this year. Meanwhile, the Medical sector has returned an average of -1.22% on a year-to-date basis. This means that Cassava Sciences is outperforming the sector as a whole this year.
To break things down more, SAVA belongs to the Medical - Drugs industry, a group that includes 190 individual companies and currently sits at #187 in the Zacks Industry Rank. On average, this group has lost an average of 3.18% so far this year, meaning that SAVA is performing better in terms of year-to-date returns.
Investors with an interest in Medical stocks should continue to track SAVA. The stock will be looking to continue its solid performance.
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