Investors focused on the Medical space have likely heard of Calithera Biosciences (CALA - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? A quick glance at the company's year-to-date performance in comparison to the rest of the Medical sector should help us answer this question.
Calithera Biosciences is one of 890 individual stocks in the Medical sector. Collectively, these companies sit at #1 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 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. CALA is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for CALA's full-year earnings has moved 13.95% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
According to our latest data, CALA has moved about 16.99% on a year-to-date basis. In comparison, Medical companies have returned an average of -3.65%. As we can see, Calithera Biosciences is performing better than its sector in the calendar year.
Looking more specifically, CALA belongs to the Medical - Drugs industry, a group that includes 171 individual stocks and currently sits at #19 in the Zacks Industry Rank. On average, stocks in this group have lost 9.79% this year, meaning that CALA is performing better in terms of year-to-date returns.
Investors in the Medical sector will want to keep a close eye on CALA as it attempts to continue its solid performance.