Investors focused on the Medical space have likely heard of Zynerba Pharmaceuticals (ZYNE), but is the stock performing well in comparison to the rest of its sector peers? By taking a look at the stock's year-to-date performance in comparison to its Medical peers, we might be able to answer that question.
Zynerba Pharmaceuticals is one of 844 companies in the Medical group. The Medical group currently sits at #2 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 proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. ZYNE is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for ZYNE's full-year earnings has moved 14.39% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the most recent data, ZYNE has returned 355.56% so far this year. At the same time, Medical stocks have gained an average of 3.57%. This shows that Zynerba Pharmaceuticals is outperforming its peers so far this year.
Breaking things down more, ZYNE is a member of the Medical - Generic Drugs industry, which includes 23 individual companies and currently sits at #189 in the Zacks Industry Rank. Stocks in this group have lost about 6.07% so far this year, so ZYNE is performing better this group in terms of year-to-date returns.
Going forward, investors interested in Medical stocks should continue to pay close attention to ZYNE as it looks to continue its solid performance.
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