Yahoo Finance Is Cybin Inc. (CYBN) Stock Outpacing Its Medical Peers This Year?
Investors interested in Medical stocks should always be looking to find the best-performing companies in the group. Cybin Inc. (CYBN) 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? By taking a look at the stock's year-to-date performance in comparison to its Medical peers, we might be able to answer that question.
Cybin Inc. is a member of our Medical group, which includes 1166 different companies and currently sits at #6 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 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. Cybin Inc. is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for CYBN's full-year earnings has moved 24.8% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Our latest available data shows that CYBN has returned about 26.2% since the start of the calendar year. At the same time, Medical stocks have lost an average of 4.3%. This shows that Cybin Inc. is outperforming its peers so far this year.
Another stock in the Medical sector, IPSEN (IPSEY), has outperformed the sector so far this year. The stock's year-to-date return is 2.1%.
For IPSEN, the consensus EPS estimate for the current year has increased 3.6% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, Cybin Inc. belongs to the Medical - Biomedical and Genetics industry, a group that includes 553 individual companies and currently sits at #95 in the Zacks Industry Rank. This group has lost an average of 5.7% so far this year, so CYBN is performing better in this area.
In contrast, IPSEN falls under the Medical - Drugs industry. Currently, this industry has 216 stocks and is ranked #86. Since the beginning of the year, the industry has moved -0.1%.
Investors interested in the Medical sector may want to keep a close eye on Cybin Inc. and IPSEN as they attempt to continue their solid performance.
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Cybin Inc. (CYBN) : Free Stock Analysis Report
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