Investors focused on the Medical space have likely heard of Trevena (TRVN), 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.
Trevena is one of 833 individual stocks in the Medical sector. Collectively, these companies sit at #3 in 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 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. TRVN is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for TRVN's full-year earnings has moved 12.90% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Our latest available data shows that TRVN has returned about 260.47% since the start of the calendar year. At the same time, Medical stocks have gained an average of 10.05%. This means that Trevena is outperforming the sector as a whole this year.
To break things down more, TRVN belongs to the Medical - Biomedical and Genetics industry, a group that includes 344 individual companies and currently sits at #88 in the Zacks Industry Rank. This group has gained an average of 15.90% so far this year, so TRVN is performing better in this area.
TRVN will likely be looking to continue its solid performance, so investors interested in Medical stocks should continue to pay close attention to the company.
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