Zomedica Pharmaceuticals Corp. (ZOM) closed the most recent trading day at $0.16, moving -0.3% from the previous trading session. This change lagged the S&P 500's 0.74% gain on the day. Meanwhile, the Dow gained 0.43%, and the Nasdaq, a tech-heavy index, added 1.67%.
Heading into today, shares of the company had lost 28.88% over the past month, lagging the Medical sector's gain of 3.64% and the S&P 500's gain of 5.51% in that time.
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 recent revisions tend to reflect the evolving nature of short-term business trends. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. ZOM is currently a Zacks Rank #2 (Buy).
The Medical - Drugs industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 104, which puts it in the top 41% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. 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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