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? Let's take a closer look at the stock's year-to-date performance to find out.
Zynerba Pharmaceuticals is one of 844 individual stocks in the Medical sector. Collectively, these companies sit at #2 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).
The Zacks Consensus Estimate for ZYNE's full-year earnings has moved 13.48% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Our latest available data shows that ZYNE has returned about 329.97% since the start of the calendar year. Meanwhile, stocks in the Medical group have gained about 3.61% on average. This means that Zynerba Pharmaceuticals is outperforming the sector as a whole this year.
To break things down more, ZYNE belongs to the Medical - Generic Drugs industry, a group that includes 23 individual companies and currently sits at #180 in the Zacks Industry Rank. On average, stocks in this group have gained 2.64% 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.