Has Amarin Corporation (AMRN) Outpaced Other Medical Stocks This Year?
The Medical group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has Amarin Corporation (AMRN) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Amarin Corporation is one of 887 individual stocks in the Medical sector. Collectively, these companies sit at #2 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. AMRN is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for AMRN's full-year earnings has moved 8.82% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
According to our latest data, AMRN has moved about 23.15% on a year-to-date basis. Meanwhile, stocks in the Medical group have gained about 2.95% on average. As we can see, Amarin Corporation is performing better than its sector in the calendar year.
Looking more specifically, AMRN belongs to the Medical - Biomedical and Genetics industry, which includes 376 individual stocks and currently sits at #62 in the Zacks Industry Rank. This group has gained an average of 0.85% so far this year, so AMRN is performing better in this area.
AMRN will likely be looking to continue its solid performance, so investors interested in Medical stocks should continue to pay close attention to the company.
Click to get this free report
Amarin Corporation PLC (AMRN): Free Stock Analysis Report
To read this article on Zacks.com click here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.