Investors interested in Medical stocks should always be looking to find the best-performing companies in the group. Has ANI Pharmaceuticals (ANIP) 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.
ANI Pharmaceuticals is a member of the Medical sector. This group includes 955 individual stocks and currently holds a Zacks Sector Rank of #4. 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. ANI Pharmaceuticals is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for ANIP's full-year earnings has moved 13.6% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the latest available data, ANIP has gained about 70.5% so far this year. Meanwhile, the Medical sector has returned an average of 2.2% on a year-to-date basis. As we can see, ANI Pharmaceuticals is performing better than its sector in the calendar year.
One other Medical stock that has outperformed the sector so far this year is Cognition Therapeutics, Inc. (CGTX). The stock is up 146.7% year-to-date.
In Cognition Therapeutics, Inc.'s case, the consensus EPS estimate for the current year increased 1.2% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, ANI Pharmaceuticals belongs to the Medical - Biomedical and Genetics industry, a group that includes 470 individual companies and currently sits at #92 in the Zacks Industry Rank. Stocks in this group have gained about 9.3% so far this year, so ANIP is performing better this group in terms of year-to-date returns. Cognition Therapeutics, Inc. is also part of the same industry.
Going forward, investors interested in Medical stocks should continue to pay close attention to ANI Pharmaceuticals and Cognition Therapeutics, Inc. as they could maintain their solid performance.
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ANI Pharmaceuticals, Inc. (ANIP): Free Stock Analysis Report Cognition Therapeutics, Inc. (CGTX): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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