Biomerica (NASDAQ:BMRA) Releases Quarterly Earnings Results, Beats Estimates By $0.50 EPS

Biomerica (NASDAQ:BMRA) posted its quarterly earnings results on Monday. The company reported ($0.38) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.88) by $0.50, FiscalAI reports. Biomerica had a negative net margin of 96.49% and a negative return on equity of 98.14%. The firm had revenue of $0.88 million for the quarter, compared to analyst estimates of $2.22 million.

Biomerica Stock Performance

Shares of NASDAQ:BMRA opened at $2.09 on Wednesday. The company has a market capitalization of $6.46 million, a price-to-earnings ratio of -1.65 and a beta of 0.37. Biomerica has a 12-month low of $1.45 and a 12-month high of $3.22. The business has a 50-day moving average price of $1.68 and a 200 day moving average price of $1.99.

Insider Buying and Selling at Biomerica

In related news, Director M. Huff Gary purchased 31,250 shares of the company’s stock in a transaction on Thursday, August 20th. The stock was acquired at an average cost of $1.60 per share, for a total transaction of $50,000.00. Following the completion of the transaction, the director directly owned 51,250 shares in the company, valued at approximately $82,000. The trade was a 156.25% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, Vice Chairman Allen Barbieri purchased 20,000 shares of the company’s stock in a transaction on Wednesday, August 26th. The shares were bought at an average price of $1.60 per share, with a total value of $32,000.00. Following the completion of the transaction, the insider owned 73,542 shares of the company’s stock, valued at approximately $117,667.20. The trade was a 37.35% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have purchased 92,500 shares of company stock valued at $148,000 over the last 90 days. 18.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Biomerica

A hedge fund recently raised its stake in Biomerica stock. DRW Securities LLC boosted its stake in Biomerica, Inc. (NASDAQ:BMRA) by 62.9% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 16,925 shares of the company’s stock after purchasing an additional 6,533 shares during the period. DRW Securities LLC owned about 0.56% of Biomerica worth $43,000 at the end of the most recent quarter. 22.28% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

BMRA has been the topic of a number of research reports. Weiss Ratings lowered shares of Biomerica from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, June 5th. Citizens Jmp initiated coverage on Biomerica in a research report on Tuesday, May 5th. They issued a “mkt outperform” rating and a $9.00 price target for the company. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock currently has an average rating of “Sell” and a consensus target price of $9.00.

Biomerica Company Profile

Biomerica, Inc is a developer, manufacturer and marketer of in vitro diagnostic tests for clinical diagnostic, life science research and food safety applications. The company’s product portfolio includes enzyme-linked immunosorbent assays (ELISAs), lateral flow immunoassays, point-of-care devices and specialty reagents designed to aid in the detection and monitoring of gastrointestinal, metabolic and autoimmune conditions. Biomerica’s diagnostics are used by hospitals, clinical and reference laboratories, and research institutions seeking solutions for early disease detection and patient management.

Key offerings from Biomerica include serological tests for celiac disease and gluten intolerance, quantitative assays for colorectal cancer screening markers such as M2-PK, and a range of point-of-care kits for metabolic monitoring.