Has Kala Pharmaceuticals (KALA) Outpaced Other Medical Stocks This Year?
Investors interested in Medical stocks should always be looking to find the best-performing companies in the group. Kala Pharmaceuticals (KALA) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? One simple way to answer this question is to take a look at the year-to-date performance of KALA and the rest of the Medical group's stocks.
Kala Pharmaceuticals is one of 895 individual stocks in the Medical sector. Collectively, these companies sit at #1 in the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
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. KALA is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for KALA's full-year earnings has moved 10.92% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the latest available data, KALA has gained about 140.11% so far this year. In comparison, Medical companies have returned an average of -11.98%. As we can see, Kala Pharmaceuticals is performing better than its sector in the calendar year.
Breaking things down more, KALA is a member of the Medical - Biomedical and Genetics industry, which includes 384 individual companies and currently sits at #27 in the Zacks Industry Rank. Stocks in this group have lost about 7.33% so far this year, so KALA is performing better this group in terms of year-to-date returns.
Going forward, investors interested in Medical stocks should continue to pay close attention to KALA as it looks to continue its solid performance.
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