Are Medical Stocks Lagging ANI Pharmaceuticals (ANIP) This Year?
For those looking to find strong Medical stocks, it is prudent to search for companies in the group that are outperforming their peers. ANI Pharmaceuticals (ANIP) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? 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.
ANI Pharmaceuticals is a member of the Medical sector. This group includes 1139 individual stocks and currently holds a Zacks Sector Rank of #5. 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. ANI Pharmaceuticals is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for ANIP's full-year earnings has moved 50.3% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the latest available data, ANIP has gained about 29.6% so far this year. At the same time, Medical stocks have lost an average of 1.7%. This means that ANI Pharmaceuticals is outperforming the sector as a whole this year.
Another Medical stock, which has outperformed the sector so far this year, is Cardiol Therapeutics Inc. (CRDL). The stock has returned 64.8% year-to-date.
Over the past three months, Cardiol Therapeutics Inc.'s consensus EPS estimate for the current year has increased 21.2%. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, ANI Pharmaceuticals belongs to the Medical - Biomedical and Genetics industry, a group that includes 548 individual stocks and currently sits at #112 in the Zacks Industry Rank. On average, stocks in this group have lost 7.1% this year, meaning that ANIP is performing better in terms of year-to-date returns.
On the other hand, Cardiol Therapeutics Inc. belongs to the Medical - Drugs industry. This 207-stock industry is currently ranked #114. The industry has moved -0.2% year to date.
Going forward, investors interested in Medical stocks should continue to pay close attention to ANI Pharmaceuticals and Cardiol Therapeutics Inc. as they could maintain their solid performance.
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ANI Pharmaceuticals, Inc. (ANIP) : Free Stock Analysis Report
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