Investors interested in Medical stocks should always be looking to find the best-performing companies in the group. Has Editas Medicine (EDIT) been one of those stocks this year? 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.
Editas Medicine is a member of the Medical sector. This group includes 983 individual stocks and currently holds a Zacks Sector Rank of #7. 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 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. Editas Medicine is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for EDIT's full-year earnings has moved 0.4% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the latest available data, EDIT has gained about 98.4% so far this year. In comparison, Medical companies have returned an average of -5.4%. As we can see, Editas Medicine is performing better than its sector in the calendar year.
Another stock in the Medical sector, Adherex Technologies Inc. (FENC), has outperformed the sector so far this year. The stock's year-to-date return is 33.1%.
The consensus estimate for Adherex Technologies Inc.'s current year EPS has increased 360% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, Editas Medicine belongs to the Medical - Biomedical and Genetics industry, a group that includes 492 individual companies and currently sits at #147 in the Zacks Industry Rank. This group has gained an average of 1.5% so far this year, so EDIT is performing better in this area. Adherex Technologies Inc. is also part of the same industry.
Investors with an interest in Medical stocks should continue to track Editas Medicine and Adherex Technologies Inc.. These stocks will be looking to continue their solid performance.
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Editas Medicine, Inc. (EDIT): Free Stock Analysis Report Adherex Technologies Inc. (FENC): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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