For those looking to find strong Medical stocks, it is prudent to search for companies in the group that are outperforming their peers. Is ANI Pharmaceuticals (ANIP) one of those stocks right now? 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 one of 951 individual stocks in the Medical sector. Collectively, these companies sit at #5 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 is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics 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 0.6% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the latest available data, ANIP has gained about 60.2% so far this year. Meanwhile, stocks in the Medical group have gained about 4.6% on average. This means that ANI Pharmaceuticals is performing better than its sector in terms of year-to-date returns.
Another stock in the Medical sector, Black Diamond (BDTX), has outperformed the sector so far this year. The stock's year-to-date return is 115.9%.
The consensus estimate for Black Diamond's current year EPS has increased 28.7% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, ANI Pharmaceuticals is a member of the Medical - Biomedical and Genetics industry, which includes 469 individual companies and currently sits at #83 in the Zacks Industry Rank. On average, stocks in this group have gained 15.9% this year, meaning that ANIP is performing better in terms of year-to-date returns. Black Diamond is also part of the same industry.
Investors with an interest in Medical stocks should continue to track ANI Pharmaceuticals and Black Diamond. These stocks will be looking to continue their solid performance.
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ANI Pharmaceuticals, Inc. (ANIP): Free Stock Analysis Report Black Diamond Therapeutics, Inc. (BDTX): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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