Biomerica (BMRA) Expected to Announce Earnings on Thursday

Biomerica (NASDAQ:BMRA) is projected to post its results before the market opens on Thursday, August 27th. Analysts expect Biomerica to post earnings of ($0.88) per share and revenue of $2.2160 million for the quarter.

Biomerica Stock Up 4.8%

Shares of BMRA opened at $1.76 on Wednesday. The company has a market capitalization of $5.44 million, a price-to-earnings ratio of -1.98 and a beta of 0.35. Biomerica has a 52 week low of $1.45 and a 52 week high of $3.42. The stock’s 50-day moving average price is $1.66 and its 200-day moving average price is $1.99.

Hedge Funds Weigh In On Biomerica

A hedge fund recently raised its position in Biomerica stock. DRW Securities LLC increased its position in shares of Biomerica, Inc. (NASDAQ:BMRA) by 62.9% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 16,925 shares of the company’s stock after purchasing an additional 6,533 shares during the quarter. DRW Securities LLC owned approximately 0.56% of Biomerica worth $43,000 as of its most recent filing with the SEC. Hedge funds and other institutional investors own 22.28% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on BMRA shares. Citizens Jmp started coverage on 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 report on Friday, June 5th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock presently has an average rating of “Sell” and an average price target 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.