Zacks Investment Research Lowers Zomedica Pharmaceuticals Corp (NYSEAMERICAN) (NYSE:ZOM) to Sell

Zacks Investment Research cut shares of Zomedica Pharmaceuticals Corp (NYSEAMERICAN) (NYSE:ZOM) from a hold rating to a sell rating in a report issued on Saturday morning, Zacks.com reports.

According to Zacks, “Zomedica Pharmaceuticals Corp. is a veterinary pharmaceutical and health care solutions company. It provides products for companion animals by focusing on the unmet needs of clinical veterinarians. The company’s portfolio includes diagnostics, devices, innovative drugs and drug-delivery technologies. Zomedica Pharmaceuticals Corp. is based in Ann Arbor, Michigan. “

Shares of ZOM opened at $0.36 on Friday. The business has a 50-day simple moving average of $0.34 and a two-hundred day simple moving average of $0.31. The stock has a market cap of $43.19 million, a price-to-earnings ratio of -2.00 and a beta of 0.19. Zomedica Pharmaceuticals Corp has a 52 week low of $0.20 and a 52 week high of $1.76.

Zomedica Pharmaceuticals Corp (NYSEAMERICAN) (NYSE:ZOM) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.01). Equities research analysts forecast that Zomedica Pharmaceuticals Corp will post -0.17 EPS for the current year.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in shares of Zomedica Pharmaceuticals Corp (NYSEAMERICAN) by 139.1% in the second quarter. Vanguard Group Inc. now owns 383,154 shares of the company’s stock worth $88,000 after acquiring an additional 222,920 shares during the period. Morgan Stanley boosted its stake in shares of Zomedica Pharmaceuticals Corp (NYSEAMERICAN) by 1,523.2% in the second quarter. Morgan Stanley now owns 111,598 shares of the company’s stock worth $25,000 after acquiring an additional 104,723 shares during the period. Finally, Paloma Partners Management Co bought a new position in shares of Zomedica Pharmaceuticals Corp (NYSEAMERICAN) in the second quarter worth about $45,000. Institutional investors and hedge funds own 13.06% of the company’s stock.

About Zomedica Pharmaceuticals Corp (NYSEAMERICAN)

Zomedica Pharmaceuticals Corp., a development stage veterinary diagnostic and pharmaceutical company, engages in the discovery, development, and commercialization of pharmaceuticals for the companion pet. The company's lead drug product candidate is ZM-012, a tablet formulation of metronidazole targeting the treatment of acute diarrhea in dogs.

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