Biomerica (NASDAQ:BMRA) Issues Earnings Results

Biomerica (NASDAQ:BMRA) issued its quarterly earnings results on Thursday. The company reported ($0.37) earnings per share for the quarter, beating the consensus estimate of ($1.20) by $0.83, Zacks reports. The business 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 Stock Up 2.2%

BMRA traded up $0.04 during trading hours on Thursday, reaching $1.84. 13,846 shares of the company’s stock traded hands, compared to its average volume of 36,222. The firm has a 50-day moving average price of $2.04 and a 200 day moving average price of $2.01. Biomerica has a 52-week low of $1.45 and a 52-week high of $3.21. The firm has a market capitalization of $5.69 million, a PE ratio of -1.45 and a beta of 0.38.

Analysts Set New Price Targets

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

Insider Activity at Biomerica

In other Biomerica news, Director M. Huff Gary bought 31,250 shares of the company’s stock in a transaction on Thursday, August 20th. The shares were bought at an average cost of $1.60 per share, for a total transaction of $50,000.00. Following the acquisition, 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Vice Chairman Allen Barbieri purchased 20,000 shares of the stock in a transaction dated Wednesday, August 26th. The stock was acquired at an average cost of $1.60 per share, with a total value of $32,000.00. Following the transaction, the insider directly owned 73,542 shares in the company, valued at approximately $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 quarter, insiders bought 92,500 shares of company stock worth $148,000. Company insiders own 18.00% of the company’s stock.

Biomerica Company Profile

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.