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Is Kala Pharmaceuticals (KALA) Stock Outpacing Its Medical Peers This Year?

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Zacks Equity Research
·2 min read
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Investors focused on the Medical space have likely heard of Kala Pharmaceuticals (KALA), but is the stock performing well in comparison to the rest of its sector peers? 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.

Kala Pharmaceuticals is one of 892 companies in the Medical group. The Medical group currently sits at #1 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 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. KALA is currently sporting a Zacks Rank of #2 (Buy).

Over the past 90 days, the Zacks Consensus Estimate for KALA's full-year earnings has moved 12.38% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.

Based on the latest available data, KALA has gained about 169.92% so far this year. Meanwhile, the Medical sector has returned an average of -3.48% on a year-to-date basis. This means that Kala Pharmaceuticals is outperforming the sector as a whole this year.

Looking more specifically, KALA belongs to the Medical - Biomedical and Genetics industry, a group that includes 382 individual stocks and currently sits at #13 in the Zacks Industry Rank. Stocks in this group have gained about 2.08% so far this year, so KALA is performing better this group in terms of year-to-date returns.

Investors with an interest in Medical stocks should continue to track KALA. The stock will be looking to continue its solid performance.

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