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Zomedica (ZOM) to Report Q2 Earnings: What's in the Cards?

By Zacks Investment ResearchStock MarketsAug 04, 2020 01:47AM ET
www.investing.com/analysis/zomedica-zom-to-report-q2-earnings-whats-in-the-cards-200532958
Zomedica (ZOM) to Report Q2 Earnings: What's in the Cards?
By Zacks Investment Research   |  Aug 04, 2020 01:47AM ET
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Zomedica Pharmaceuticals (NYSE:ZOM) Corp. ZOM will provide updates on its pipeline when it reports second-quarter 2020 results.

The company has a dismal earnings surprise history with its bottom line having missed expectations in two of the trailing four quarters, beating the same in one and witnessing break-even results on the remaining occasion. The average negative surprise is 8.33%. In the first quarter, the company reported in-line results.

Shares of Zomedica have decreased 4.3% in the year so far compared with the industry’s decline of 52.7%.


Let's see how things are shaping up for this announcement.

Factors to Consider

Zomedica, a veterinary diagnostic company,does not have any approved drug in its portfolio. In absence of any marketed drug, investors’focus will be on pipeline updates on second-quarter conference call.

The company deepens its focus on the final development and commercialization of Truforma, its inaugural point-of-care diagnostic biosensor platform, and the first five assays for the detection of adrenal and thyroid disorders in cats and dogs. In April this year, management announced completion of the verification of Truforma.

Targeting its Truforma platform, the company reduced administrative headcount and associated activities on account of which, general and administrative expense islikely to have declined in the Junequarter, indicating an improvementfrom the2019 levels.

What Our Model Indicates

Our proven model does not conclusively predict an earnings beat for Zomedica this season. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that is not the case here as you will see below.

Earnings ESP: Zomedica has an Earnings ESP of 0.00% as both the Most Accurate Estimate and the Zacks Consensus Estimate are pegged at a loss of 1 cent. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

Zacks Rank: Zomedica currently carries a Zacks Rank #2.

Stocks to Consider

Here are some biotech stocks that have the right mix of elements to beat on earnings this time around:

ACADIA Pharmaceuticals (NASDAQ:ACAD) Inc. ACAD has an Earnings ESP of +4.23% and a Zacks Rank #3, presently. You can see the complete list of today’s Zacks #1 Rank stocks here.

bluebird bio Inc. BLUE has an Earnings ESP of +69.18% and a Zacks Rank of 3 at present.

Amarin (NASDAQ:AMRN) Corporation Plc. AMRN has an Earnings ESP of +72.73% and is currently Zacks #3 Ranked.

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Zomedica (ZOM) to Report Q2 Earnings: What's in the Cards?
 

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Zomedica (ZOM) to Report Q2 Earnings: What's in the Cards?

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