Zomedica (ZOM) Stock Continues To Fly

Zomedica ZOM Stock News

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Zomedica Corp (NYSEAMERICAN: ZOM) is making a run for the top in the market yet again this morning, following up on the strong gains that we’ve seen from the stock as of late. The gains were triggered by an announcement that commercialization of its TRUFORMA diagnostics product will be coming soon. Not to mention, analysts are absolutely loving the stock. Here’s what’s going on:

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ZOM Stock Is Flying Yet Again

As mentioned above, Zomedica is headed for the top yet again in the market this morning. The gains were first triggered by the announcement that the company will be launching its TRUFORMA diagnostics platform early next year. To find out more about the launch, click here.

Diving in on message boards today, there’s a clear message that’s being repeated over and over again. Analysts absolutely love this stock.

Take a look at TipRanks. At the moment, analysts have a buy rating on the stock with a $0.30 price target. That’s an implied upside of more than 100%!

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Is ZOM A Buy Right Now?

In my personal opinion, now is the time to buy into Zomedica. The fact of the matter is that early next year, the comapny will be headed into a product launch. We’re not talking about a small opportunity here.

Companion pet diagnostics is a massive market, generating billions of dollars each year for those that take part in the industry. Zomedica, on the other hand, has a market cap of under $100 million. With that said, the company doesn’t need to take the lion’s share of this market to create a meaningful revenue opportunity, it only needs a small sliver of the market.

Considering the efficacy surrounding the TRUFORMA platform from ZOM, I don’t see any reason for the company to have a problem capturing what would equate to a meaningful share of this multi-billion dollar market. As a result, in my humble opinion, ZOM stock is indeed a buy.

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