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Has IMARA (IMRA) Outpaced Other Medical Stocks This Year?
Investors interested in Medical stocks should always be looking to find the best-performing companies in the group. Has IMARA Inc. been one of those stocks this year? 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.
IMARA Inc. is one of 1184 companies in the Medical group. The Medical group currently sits at #6 within the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
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. IMARA Inc. is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for IMRA's full-year earnings has moved 23.5% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the most recent data, IMRA has returned 7.6% so far this year. Meanwhile, stocks in the Medical group have lost about 18.9% on average. This means that IMARA Inc. is performing better than its sector in terms of year-to-date returns.
Another Medical stock, which has outperformed the sector so far this year, is Viracta (VIRX - Free Report) . The stock has returned 53.2% year-to-date.
Over the past three months, Viracta's consensus EPS estimate for the current year has increased 5.4%. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, IMARA Inc. belongs to the Medical - Biomedical and Genetics industry, a group that includes 557 individual stocks and currently sits at #76 in the Zacks Industry Rank. On average, this group has lost an average of 22% so far this year, meaning that IMRA is performing better in terms of year-to-date returns.
Viracta, however, belongs to the Medical - Drugs industry. Currently, this 220-stock industry is ranked #90. The industry has moved -22.9% so far this year.
Going forward, investors interested in Medical stocks should continue to pay close attention to IMARA Inc. and Viracta as they could maintain their solid performance.