Investors interested in Medical stocks should always be looking to find the best-performing companies in the group. Is Denali Therapeutics (DNLI) 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.
Denali Therapeutics is one of 902 companies in the Medical group. The Medical group currently sits at #2 within the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
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. DNLI is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for DNLI's full-year earnings has moved 0.36% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the most recent data, DNLI has returned 46.10% so far this year. In comparison, Medical companies have returned an average of 3.27%. This means that Denali Therapeutics is outperforming the sector as a whole this year.
Breaking things down more, DNLI is a member of the Medical - Biomedical and Genetics industry, which includes 385 individual companies and currently sits at #74 in the Zacks Industry Rank. This group has gained an average of 1.34% so far this year, so DNLI is performing better in this area.
Investors in the Medical sector will want to keep a close eye on DNLI as it attempts to continue its solid performance.
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