In the latest trading session, Zynerba Pharmaceuticals (ZYNE - Free Report) closed at $14.40, marking a +0.7% move from the previous day. The stock outpaced the S&P 500's daily gain of 0.23%. Elsewhere, the Dow gained 0.85%, while the tech-heavy Nasdaq lost 0.08%.
Coming into today, shares of the specialty pharmaceutical company had gained 5.77% in the past month. In that same time, the Medical sector gained 1.17%, while the S&P 500 gained 3.84%.
Investors will be hoping for strength from ZYNE as it approaches its next earnings release. In that report, analysts expect ZYNE to post earnings of -$0.50 per share. This would mark year-over-year growth of 43.82%.
Investors might also notice recent changes to analyst estimates for ZYNE. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. ZYNE is currently a Zacks Rank #3 (Hold).
The Medical - Generic Drugs industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 92, which puts it in the top 36% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.