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? One simple way to answer this question is to take a look at the year-to-date performance of ZYNE and the rest of the Medical group's stocks.
Zynerba Pharmaceuticals is a member of our Medical group, which includes 884 different companies and currently sits at #1 in the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
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 #1 (Strong Buy).
The Zacks Consensus Estimate for ZYNE's full-year earnings has moved 13.77% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
According to our latest data, ZYNE has moved about 90.24% on a year-to-date basis. Meanwhile, the Medical sector has returned an average of 7.27% on a year-to-date basis. 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 26 individual companies and currently sits at #140 in the Zacks Industry Rank. This group has gained an average of 5.08% so far this year, so ZYNE is performing better in this area.
Investors in the Medical sector will want to keep a close eye on ZYNE as it attempts to continue its solid performance.