Investors focused on the Medical space have likely heard of Coherus BioSciences (CHRS - 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 CHRS and the rest of the Medical group's stocks.
Coherus BioSciences is a member of the Medical sector. This group includes 908 individual stocks and currently holds a Zacks Sector Rank of #2. 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 emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. CHRS is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for CHRS's full-year earnings has moved 33.33% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the latest available data, CHRS has gained about 0.58% so far this year. In comparison, Medical companies have returned an average of -0.11%. As we can see, Coherus BioSciences is performing better than its sector in the calendar year.
To break things down more, CHRS belongs to the Medical - Biomedical and Genetics industry, a group that includes 389 individual companies and currently sits at #49 in the Zacks Industry Rank. Stocks in this group have lost about 0.67% so far this year, so CHRS is performing better this group in terms of year-to-date returns.
Investors in the Medical sector will want to keep a close eye on CHRS as it attempts to continue its solid performance.