Zomedica Pharmaceuticals Corp. (ZOM) Gains But Lags Market: What You Should Know
In the latest trading session, Zomedica Pharmaceuticals Corp. (ZOM) closed at $0.16, marking a +0.57% move from the previous day. This change lagged the S&P 500's 0.72% gain on the day. Meanwhile, the Dow gained 0.89%, and the Nasdaq, a tech-heavy index, added 1.47%.
Coming into today, shares of the company had lost 5.89% in the past month. In that same time, the Medical sector gained 3.7%, while the S&P 500 gained 5.85%.
Wall Street will be looking for positivity from ZOM as it approaches its next earnings report date. On that day, ZOM is projected to report earnings of -$0.01 per share, which would represent year-over-year growth of 50%.
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 such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 sporting a Zacks Rank of #2 (Buy).
The Medical - Drugs industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 120, which puts it in the top 48% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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