Zomedica Pharmaceuticals Corp. (ZOM) closed the most recent trading day at $0.16, moving +1.31% from the previous trading session. This move outpaced the S&P 500's daily gain of 0.29%. Elsewhere, the Dow lost 0.24%, while the tech-heavy Nasdaq added 0.28%.
Coming into today, shares of the company had lost 27% in the past month. In that same time, the Medical sector gained 3.14%, while the S&P 500 gained 2.96%.
ZOM will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of -$0.01, up 50% from the prior-year quarter.
It is also important to note the recent changes to analyst estimates for ZOM. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 42.86% higher. ZOM is currently sporting a Zacks Rank of #2 (Buy).
The Medical - Drugs industry is part of the Medical sector. This group has a Zacks Industry Rank of 104, putting it in the top 41% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow ZOM in the coming trading sessions, be sure to utilize Zacks.com.
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Zomedica Pharmaceuticals Corp. (ZOM) : Free Stock Analysis Report
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