The Medical group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Zynerba Pharmaceuticals (ZYNE) one of those stocks right now? 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 889 individual stocks in the Medical sector. Collectively, these companies sit at #1 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
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. ZYNE is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for ZYNE's full-year earnings has moved 7.90% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the most recent data, ZYNE has returned 7.28% so far this year. Meanwhile, the Medical sector has returned an average of -1.66% on a year-to-date basis. As we can see, Zynerba Pharmaceuticals is performing better than its sector in the calendar year.
Breaking things down more, ZYNE is a member of the Medical - Generic Drugs industry, which includes 24 individual companies and currently sits at #15 in the Zacks Industry Rank. On average, stocks in this group have lost 6.85% this year, meaning that ZYNE is performing better in terms of year-to-date returns.
Investors with an interest in Medical stocks should continue to track ZYNE. The stock will be looking to continue its solid performance.
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Zynerba Pharmaceuticals, Inc. (ZYNE) : Free Stock Analysis Report
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