Biomerica (NASDAQ:BMRA) Releases Quarterly Earnings Results, Beats Estimates By $0.83 EPS

Biomerica (NASDAQ:BMRA) posted its quarterly earnings data on Thursday. The company reported ($0.37) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.20) by $0.83, Zacks reports. The firm had revenue of $1.26 million for the quarter, compared to the consensus estimate of $3.63 million. Biomerica had a negative net margin of 84.79% and a negative return on equity of 97.19%.

Biomerica Price Performance

NASDAQ BMRA opened at $1.84 on Friday. The stock’s fifty day moving average price is $2.04 and its 200 day moving average price is $2.01. Biomerica has a 1 year low of $1.45 and a 1 year high of $3.21.

Insiders Place Their Bets

In other news, CEO Zackary S. Irani acquired 31,250 shares of Biomerica stock in a transaction dated Wednesday, August 26th. The stock was purchased at an average cost of $1.60 per share, for a total transaction of $50,000.00. Following the completion of the purchase, the chief executive officer directly owned 242,570 shares in the company, valued at $388,112. This trade represents a 14.79% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director M. Huff Gary acquired 31,250 shares of Biomerica stock in a transaction dated Thursday, August 20th. The stock was purchased at an average price of $1.60 per share, with a total value of $50,000.00. Following the completion of the purchase, the director owned 51,250 shares of the company’s stock, valued at approximately $82,000. The trade was a 156.25% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders bought 92,500 shares of company stock valued at $148,000. 18.00% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised shares of Biomerica from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday. One research analyst has rated the stock with a Sell rating. Based on data from MarketBeat.com, the company has a consensus rating of “Sell” and a consensus target price of $9.00.

About Biomerica

Biomerica, Inc is a medical diagnostics company that develops and commercializes products designed to help diagnose and manage gastrointestinal and other health conditions. The company focuses on tests and related solutions intended to support more personalized treatment decisions.

Biomerica’s best-known product platform is inFoods, which uses blood-based testing to identify foods that may contribute to symptoms associated with gastrointestinal disorders. The company has emphasized inFoods IBS, a diagnostic-guided dietary management solution for people with irritable bowel syndrome, pairing test results with individualized food recommendations.

Biomerica also has developed and marketed diagnostic products for conditions including Helicobacter pylori infection, allergies and respiratory illnesses.