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Is Sorrento Therapeutics (SRNE) Outperforming Other Medical Stocks This Year?

Zacks Equity Research

For those looking to find strong Medical stocks, it is prudent to search for companies in the group that are outperforming their peers. Has Sorrento Therapeutics (SRNE) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.

Sorrento Therapeutics is one of 903 companies in the Medical group. The Medical group currently sits at #5 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 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. SRNE is currently sporting a Zacks Rank of #2 (Buy).

Within the past quarter, the Zacks Consensus Estimate for SRNE's full-year earnings has moved 14.61% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.

According to our latest data, SRNE has moved about 115.68% on a year-to-date basis. Meanwhile, stocks in the Medical group have gained about 1.03% on average. This means that Sorrento Therapeutics is performing better than its sector in terms of year-to-date returns.

Looking more specifically, SRNE belongs to the Medical - Biomedical and Genetics industry, which includes 393 individual stocks and currently sits at #93 in the Zacks Industry Rank. On average, this group has gained an average of 5.92% so far this year, meaning that SRNE is performing better in terms of year-to-date returns.

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


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