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Is Editas Medicine (EDIT) Stock Outpacing Its Medical Peers This Year?
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Investors focused on the Medical space have likely heard of Editas Medicine (EDIT - Free Report) , 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.
Editas Medicine is one of 763 companies in the Medical group. The Medical group currently sits at #12 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 successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. EDIT is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for EDIT's full-year earnings has moved 9.10% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
According to our latest data, EDIT has moved about 22.03% on a year-to-date basis. Meanwhile, stocks in the Medical group have gained about 2.46% on average. This means that Editas Medicine is outperforming the sector as a whole this year.
Looking more specifically, EDIT belongs to the Medical - Biomedical and Genetics industry, which includes 282 individual stocks and currently sits at #159 in the Zacks Industry Rank. On average, this group has lost an average of 2.95% so far this year, meaning that EDIT is performing better in terms of year-to-date returns.
Going forward, investors interested in Medical stocks should continue to pay close attention to EDIT as it looks to continue its solid performance.
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Is Editas Medicine (EDIT) Stock Outpacing Its Medical Peers This Year?
Investors focused on the Medical space have likely heard of Editas Medicine (EDIT - Free Report) , 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.
Editas Medicine is one of 763 companies in the Medical group. The Medical group currently sits at #12 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 successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. EDIT is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for EDIT's full-year earnings has moved 9.10% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
According to our latest data, EDIT has moved about 22.03% on a year-to-date basis. Meanwhile, stocks in the Medical group have gained about 2.46% on average. This means that Editas Medicine is outperforming the sector as a whole this year.
Looking more specifically, EDIT belongs to the Medical - Biomedical and Genetics industry, which includes 282 individual stocks and currently sits at #159 in the Zacks Industry Rank. On average, this group has lost an average of 2.95% so far this year, meaning that EDIT is performing better in terms of year-to-date returns.
Going forward, investors interested in Medical stocks should continue to pay close attention to EDIT as it looks to continue its solid performance.