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

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

Biomerica Trading Down 2.3%

Shares of NASDAQ:BMRA traded down $0.05 during trading on Monday, reaching $2.09. 50,425 shares of the stock were exchanged, compared to its average volume of 37,673. Biomerica has a 12 month low of $1.45 and a 12 month high of $3.22. The stock has a 50-day moving average price of $1.67 and a 200-day moving average price of $1.99. The firm has a market cap of $6.46 million, a PE ratio of -2.35 and a beta of 0.35.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. Citizens Jmp assumed coverage on shares of Biomerica in a research report on Tuesday, May 5th. They issued a “mkt outperform” rating and a $9.00 price objective on the stock. Weiss Ratings lowered shares of Biomerica from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, June 5th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Biomerica presently has an average rating of “Sell” and a consensus target price of $9.00.

Insider Transactions at Biomerica

In other Biomerica news, CEO Zackary S. Irani purchased 31,250 shares of the firm’s stock in a transaction that occurred on Wednesday, August 26th. The shares were acquired 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 owned 242,570 shares of the company’s stock, valued at approximately $388,112. The trade was a 14.79% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Vice Chairman Allen Barbieri purchased 20,000 shares of the stock in a transaction that occurred on Wednesday, August 26th. The shares were acquired at an average cost of $1.60 per share, for a total transaction of $32,000.00. Following the completion of the transaction, the insider owned 73,542 shares of the company’s stock, valued at $117,667.20. This trade represents a 37.35% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders bought 92,500 shares of company stock valued at $148,000. 18.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

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

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.