Revenue Update on Psychemedics Corp.(NASDAQ:PMD)

Psychemedics Corp.(NASDAQ:PMD) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during Pre-market on Jul 26, 2016. Earnings per share were $0.30.

Psychemedics Corp. (PMD) shares turned negative on Fridays trading session with the shares closing down -0.05 points or -0.27% at a volume of 75,847. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $18.995. The peak price level was also seen at $18.995 while the days lowest was $17.9235. Finally the shares closed at $18.48. The 52-week high of the shares is $19.23 while the 52-week low is $7.76. According to the latest information available, the market cap of the company is $100 M.

Several Insider Transactions has been reported to the SEC. On Mar 2, 2016, Harry F Sr Connick (director) purchased 700 shares at $12.83 per share price.Also, On Feb 16, 2016, Michael I Schaffer (VP of Laboratory Operations) purchased 4,507 shares at $11.09 per share price.On Sep 14, 2015, Neil Lerner (VP – Finance) purchased 3,000 shares at $10.32 per share price, according to the Form-4 filing with the securities and exchange commission.

Psychemedics Corporation (Psychemedics) provides testing services for the detection of drugs of abuse through the analysis of hair samples. The Company’s testing methods utilize a technology that digests the hair and releases drugs trapped in the hair without destroying the drugs. The Company’s primary application of its technology is as a testing service that analyzes hair samples for the presence of certain drugs of abuse. The Company performs a custom-designed enzyme immunoassay (EIA) on the liquid supernatant with confirmation testing by mass spectrometry. Psychemedics provides screening and confirmation by mass spectrometry using various practices for cocaine marijuana phencyclidine (PCP) amphetamines including ecstasy and opiates including heroin hydrocodone hydromorphone oxycodone and codeine. The Company also offers a test for alcohol using hair which measures average alcohol consumption over a period of approximately three months.

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