Last Updated: 13 Sep 2024
Executive Summary
Biomerica Inc. (BMRA) is a medical device company focused on the development, manufacturing, and marketing of diagnostic testing products for the detection of infectious diseases and other medical conditions. The company's products are used in a variety of settings, including hospitals, clinics, and laboratories.
Company Overview
Biomerica was founded in 1979 and is headquartered in Irvine, California. The company has a global presence with operations in over 100 countries. Biomerica's products are sold through a network of distributors and direct sales representatives.
The company's product portfolio includes:
Rapid diagnostic tests: These tests are used to detect the presence of infectious diseases, such as HIV, hepatitis, and syphilis.
Molecular diagnostic tests: These tests are used to detect the presence of specific genetic markers, such as those associated with cancer and genetic disorders.
Point-of-care testing devices: These devices are used to perform diagnostic tests at the point of care, such as in a doctor's office or clinic.
Fundamental Analysis
Biomerica's financial performance has been mixed in recent years. The company has reported losses in each of the past three fiscal years. However, the company's revenue has grown in each of the past two fiscal years.
For the fiscal year ended May 31, 2023, Biomerica reported revenue of $54.1 million, up 0.7% from the previous year. The company's net loss was $6.3 million, or $0.36 per share.
Biomerica's financial performance is expected to improve in the coming years. The company is benefiting from the growing demand for rapid diagnostic tests and molecular diagnostic tests. The company is also expanding its product portfolio and entering new markets.
Technical Analysis
Biomerica's stock price has been in a downtrend for the past year. The stock price has fallen from a high of $2.13 in June 2022 to a low of $0.241 in November 2022. The stock price is currently trading at $0.31.
The technical analysis suggests that Biomerica's stock price is oversold. The stock price is below its 50-day moving average and its 200-day moving average. The stock price is also below its 52-week low.
Short Term Outlook
Biomerica's stock price is expected to rebound in the short term. The company's financial performance is expected to improve in the coming quarters. The company is also benefiting from the growing demand for rapid diagnostic tests and molecular diagnostic tests.
Long Term Outlook
Biomerica's stock price is expected to continue to rise in the long term. The company is well-positioned to benefit from the growing demand for diagnostic testing products. The company is also expanding its product portfolio and entering new markets.
Analyst Recommendations
The majority of analysts recommend buying Biomerica's stock. The average analyst target price is $13.00.
