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

Biomerica (NASDAQ:BMRA) posted its quarterly earnings data on Monday. The company reported ($0.38) earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $0.88 million for the quarter, compared to the consensus estimate of $2.22 million.

Biomerica Trading Down 2.3%

BMRA opened at $2.09 on Tuesday. Biomerica has a twelve month low of $1.45 and a twelve month high of $3.22. The firm has a market capitalization of $6.46 million, a PE ratio of -2.35 and a beta of 0.35. The firm’s 50-day moving average price is $1.67 and its 200 day moving average price is $1.99.

Insiders Place Their Bets

In other Biomerica news, CEO Zackary S. Irani bought 31,250 shares of the firm’s stock in a transaction on Wednesday, August 26th. The shares were acquired at an average cost of $1.60 per share, with a total value of $50,000.00. Following the purchase, the chief executive officer directly owned 242,570 shares of the company’s stock, valued at $388,112. This trade represents a 14.79% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Vice Chairman Allen Barbieri purchased 20,000 shares of the company’s stock in a transaction dated Wednesday, August 26th. The stock was 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 directly owned 73,542 shares of the company’s stock, valued at approximately $117,667.20. This represents a 37.35% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have acquired 92,500 shares of company stock valued at $148,000 in the last ninety days. 18.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Biomerica stock. DRW Securities LLC lifted its position in Biomerica, Inc. (NASDAQ:BMRA) by 62.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 16,925 shares of the company’s stock after purchasing an additional 6,533 shares during the quarter. DRW Securities LLC owned about 0.56% of Biomerica worth $43,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 22.28% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on BMRA. Weiss Ratings downgraded shares of Biomerica from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, June 5th. Citizens Jmp assumed coverage on Biomerica in a research report on Tuesday, May 5th. They set a “mkt outperform” rating and a $9.00 price target for the company. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock presently has a consensus rating of “Sell” and an average 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.