Biomerica, Inc. (NASDAQ:BMRA) shares gapped up prior to trading on Tuesday . The stock had previously closed at $5.14, but opened at $6.74. Biomerica shares last traded at $6.43, with a volume of 51,394 shares traded.

A number of equities research analysts recently weighed in on BMRA shares. B. Riley lowered their target price on shares of Biomerica from $11.00 to $10.00 and set a “buy” rating on the stock in a report on Tuesday. Colliers Securities initiated coverage on shares of Biomerica in a research report on Tuesday, November 10th. They set a “buy” rating and a $13.00 target price on the stock. Finally, Aegis dropped their target price on shares of Biomerica from $13.00 to $11.00 and set a “buy” rating on the stock in a research report on Monday, October 19th.

The firm has a market capitalization of $73.69 million, a PE ratio of -19.59 and a beta of -0.47. The business’s 50 day moving average is $5.75 and its two-hundred day moving average is $7.05.

Biomerica (NASDAQ:BMRA) last released its quarterly earnings data on Thursday, October 15th. The company reported ($0.14) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.06). Biomerica had a negative net margin of 52.42% and a negative return on equity of 40.08%. The business had revenue of $1.14 million during the quarter, compared to analysts’ expectations of $1.09 million. On average, sell-side analysts expect that Biomerica, Inc. will post -0.3 EPS for the current fiscal year.

In related news, Director Catherine Coste acquired 9,100 shares of the company’s stock in a transaction dated Monday, October 26th. The stock was bought at an average cost of $5.45 per share, with a total value of $49,595.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 23.70% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Emerald Advisers LLC bought a new stake in Biomerica in the third quarter worth $69,000. California Public Employees Retirement System bought a new position in shares of Biomerica during the second quarter valued at about $107,000. Finally, Squarepoint Ops LLC raised its stake in shares of Biomerica by 37.5% during the third quarter. Squarepoint Ops LLC now owns 19,039 shares of the company’s stock valued at $132,000 after acquiring an additional 5,197 shares during the last quarter. 15.52% of the stock is owned by institutional investors.

About Biomerica (NASDAQ:BMRA)

Biomerica, Inc, a biomedical technology company, together with its subsidiaries, develops, patents, manufactures, and markets diagnostic and therapeutic products or detection and/or treatment of medical conditions and diseases worldwide. The company's diagnostic test kits are used to analyze blood, urine, or fecal specimens from patients in the diagnosis of various diseases and other medical complications; or to measure the level of specific bacteria, hormones, antibodies, antigens, or other substances, which exist in the patient's body and stools or blood in extremely small concentrations.

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