Investors focused on the Medical space have likely heard of Coherus BioSciences (CHRS), 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.
Coherus BioSciences is one of 901 individual stocks in the Medical sector. Collectively, these companies sit at #2 in the Zacks Sector Rank. 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 system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. CHRS is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for CHRS's full-year earnings has moved 10.64% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
According to our latest data, CHRS has moved about 19.77% on a year-to-date basis. At the same time, Medical stocks have gained an average of 1.95%. This means that Coherus BioSciences is outperforming the sector as a whole this year.
Looking more specifically, CHRS belongs to the Medical - Biomedical and Genetics industry, a group that includes 385 individual stocks and currently sits at #70 in the Zacks Industry Rank. Stocks in this group have gained about 1.51% so far this year, so CHRS is performing better this group in terms of year-to-date returns.
Going forward, investors interested in Medical stocks should continue to pay close attention to CHRS as it looks to continue its solid performance.