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Investors focused on the Medical space have likely heard of Cassava Sciences (SAVA), but is the stock performing well in comparison to the rest of its sector peers? 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.
Cassava Sciences is one of 976 individual stocks in the Medical sector. Collectively, these companies sit at #15 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 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. SAVA is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for SAVA's full-year earnings has moved 537.14% higher within the past quarter. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the latest available data, SAVA has gained about 668.18% so far this year. At the same time, Medical stocks have gained an average of 0.05%. This means that Cassava Sciences is performing better than its sector in terms of year-to-date returns.
To break things down more, SAVA belongs to the Medical - Drugs industry, a group that includes 190 individual companies and currently sits at #167 in the Zacks Industry Rank. This group has gained an average of 0.19% so far this year, so SAVA is performing better in this area.
Investors with an interest in Medical stocks should continue to track SAVA. The stock will be looking to continue its solid performance.
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