Investors focused on the Medical space have likely heard of Zynerba Pharmaceuticals (ZYNE - 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.
Zynerba Pharmaceuticals is a member of the Medical sector. This group includes 848 individual stocks and currently holds a Zacks Sector Rank of #2. 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. ZYNE is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for ZYNE's full-year earnings has moved 13.61% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the latest available data, ZYNE has gained about 177.10% so far this year. Meanwhile, stocks in the Medical group have gained about 0.81% on average. This means that Zynerba Pharmaceuticals is performing better than its sector in terms of year-to-date returns.
Breaking things down more, ZYNE is a member of the Medical - Generic Drugs industry, which includes 23 individual companies and currently sits at #95 in the Zacks Industry Rank. On average, stocks in this group have gained 2.99% this year, meaning that ZYNE is performing better 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.