Alamar Biosciences, Inc. (NASDAQ:ALMR) Stock Has Consensus Price Target of $31.80

Alamar Biosciences, Inc. (NASDAQ:ALMR) has received a consensus recommendation of “Moderate Buy” from the seven research firms that are covering the firm, MarketBeat reports. Three analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $31.80.

Several equities analysts recently issued reports on ALMR shares. Weiss Ratings raised Alamar Biosciences from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday. Stifel Nicolaus upped their target price on Alamar Biosciences from $28.00 to $32.00 and gave the company a “buy” rating in a report on Tuesday, August 11th. TD Cowen restated a “buy” rating on shares of Alamar Biosciences in a research report on Wednesday, July 15th. Finally, JPMorgan Chase & Co. raised their price target on Alamar Biosciences from $32.00 to $35.00 and gave the company an “overweight” rating in a research report on Tuesday, August 11th.

Institutional Investors Weigh In On Alamar Biosciences

Large investors have recently added to or reduced their stakes in the business. State Street Corp purchased a new position in shares of Alamar Biosciences during the 2nd quarter worth approximately $3,930,000. Squarepoint Ops LLC acquired a new position in Alamar Biosciences in the second quarter valued at $283,000. Braidwell LP purchased a new position in Alamar Biosciences during the second quarter worth about $29,365,000. Finally, Wellington Management Group LLP purchased a new position in Alamar Biosciences during the second quarter worth about $12,407,000.

Alamar Biosciences Stock Performance

ALMR stock opened at $25.27 on Friday. The firm’s 50 day moving average is $31.36. Alamar Biosciences has a 12-month low of $18.84 and a 12-month high of $39.61. The company has a debt-to-equity ratio of 0.03, a quick ratio of 10.23 and a current ratio of 11.85. The firm has a market cap of $1.75 billion and a P/E ratio of -12.89.

Alamar Biosciences (NASDAQ:ALMR) last released its quarterly earnings results on Tuesday, August 11th. The company reported ($0.22) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.36) by $0.14. The firm had revenue of $29.43 million during the quarter. Sell-side analysts forecast that Alamar Biosciences will post -1.23 earnings per share for the current fiscal year.

Alamar Biosciences Company Profile

Alamar Biosciences is a life sciences tools company focused on advancing proteomics, the study of proteins and their role in health and disease. The company develops technologies designed to enable highly sensitive, multiplexed analysis of proteins from small biological samples, supporting research in areas such as oncology, neurology, immunology and drug development.

Its primary offering is the NULISA platform, which uses proprietary digital immunoassay and molecular barcoding technologies to measure multiple protein biomarkers simultaneously.