Alamar Biosciences, Inc. (NASDAQ:ALMR) Given Average Rating of “Hold” by Analysts

Alamar Biosciences, Inc. (NASDAQ:ALMR) has received an average rating of “Hold” from the seven analysts that are currently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and four have issued a buy recommendation on the company. The average 12 month target price among brokerages that have covered the stock in the last year is $31.80.

ALMR has been the topic of a number of analyst reports. JPMorgan Chase & Co. increased their price objective on Alamar Biosciences from $32.00 to $35.00 and gave the company an “overweight” rating in a report on Tuesday, August 11th. Bank of America assumed coverage on shares of Alamar Biosciences in a report on Tuesday, May 12th. They set a “neutral” rating and a $27.00 price objective for the company. TD Cowen reissued a “buy” rating on shares of Alamar Biosciences in a research report on Wednesday, July 15th. Zacks Research raised Alamar Biosciences to a “hold” rating in a research report on Wednesday, May 13th. Finally, Leerink Partners started coverage on Alamar Biosciences in a research note on Tuesday, May 12th. They issued an “outperform” rating and a $35.00 price objective on the stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Wellington Management Group LLP bought a new stake in shares of Alamar Biosciences in the second quarter valued at approximately $12,407,000. Braidwell LP bought a new position in Alamar Biosciences during the second quarter worth $29,365,000. Finally, California State Teachers Retirement System bought a new position in Alamar Biosciences during the second quarter worth $134,000.

Alamar Biosciences Price Performance

Shares of Alamar Biosciences stock opened at $34.08 on Thursday. The firm has a market cap of $2.36 billion and a price-to-earnings ratio of -17.39. The firm’s 50-day moving average price is $27.69. Alamar Biosciences has a 52-week low of $18.84 and a 52-week high of $38.54. The company has a current ratio of 11.85, a quick ratio of 10.23 and a debt-to-equity ratio of 0.03.

Alamar Biosciences (NASDAQ:ALMR) last issued its quarterly earnings data on Tuesday, August 11th. The company reported ($0.22) earnings per share for the quarter, beating the consensus estimate of ($0.36) by $0.14. The business had revenue of $29.43 million for the quarter. As a group, equities research analysts predict that Alamar Biosciences will post -1.23 earnings per share for the current year.

Alamar Biosciences Company Profile

Our mission is to power precision proteomics to enable the earliest detection of disease. We are a commercial-stage proteomics company establishing a gold standard in protein detection and analysis. Our proprietary NULISA technology was purpose-built to address the limitations of existing proteomics tools by detecting protein biomarkers at extremely low concentrations in non-invasive biological fluids, such as blood, with ultra-high sensitivity, high specificity, flexible multiplexing, broad dynamic range and seamless automation.