Investors focused on the Medical space have likely heard of Concert Pharmaceuticals (CNCE - Free Report) , 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.
Concert Pharmaceuticals is one of 886 companies in the Medical group. The Medical group currently sits at #4 within the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
The Zacks Rank is a successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. CNCE is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for CNCE's full-year earnings has moved 12.16% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
According to our latest data, CNCE has moved about 2.55% on a year-to-date basis. At the same time, Medical stocks have lost an average of 2.34%. This means that Concert Pharmaceuticals is performing better than its sector in terms of year-to-date returns.
Looking more specifically, CNCE belongs to the Medical - Drugs industry, which includes 170 individual stocks and currently sits at #84 in the Zacks Industry Rank. On average, stocks in this group have lost 7.21% this year, meaning that CNCE is performing better in terms of year-to-date returns.
Investors with an interest in Medical stocks should continue to track CNCE. The stock will be looking to continue its solid performance.