Investors focused on the Medical space have likely heard of Zynerba Pharmaceuticals (ZYNE), but is the stock performing well in comparison to the rest of its sector peers? Let's take a closer look at the stock's year-to-date performance to find out.
Zynerba Pharmaceuticals is a member of the Medical sector. This group includes 838 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 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 #2 (Buy).
The Zacks Consensus Estimate for ZYNE's full-year earnings has moved 1.82% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the latest available data, ZYNE has gained about 80.47% so far this year. Meanwhile, stocks in the Medical group have gained about 4.78% on average. This means that Zynerba Pharmaceuticals is performing better than its sector in terms of year-to-date returns.
To break things down more, ZYNE belongs to the Medical - Generic Drugs industry, a group that includes 23 individual companies and currently sits at #166 in the Zacks Industry Rank. Stocks in this group have gained about 7.96% so far this year, so ZYNE is performing better this group in terms of year-to-date returns.
Investors with an interest in Medical stocks should continue to track ZYNE. The stock will be looking to continue its solid performance.
Zynerba Pharmaceuticals, Inc. (ZYNE): Free Stock Analysis Report
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