Brokerages Set Alamar Biosciences, Inc. (NASDAQ:ALMR) Price Target at $31.80

Shares of Alamar Biosciences, Inc. (NASDAQ:ALMR) have received a consensus rating of “Hold” from the seven analysts that are presently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to 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 research analysts recently commented on the company. JPMorgan Chase & Co. increased 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. Stifel Nicolaus upped their price objective on Alamar Biosciences from $28.00 to $32.00 and gave the stock a “buy” rating in a research note on Tuesday, August 11th. TD Cowen reissued a “buy” rating on shares of Alamar Biosciences in a research note on Wednesday, July 15th. Finally, Weiss Ratings initiated coverage on shares of Alamar Biosciences in a research report on Tuesday, August 11th. They set a “sell (d+)” rating on the stock.

Institutional Trading of Alamar Biosciences

Hedge funds have recently made changes to their positions in the business. Braidwell LP bought a new position in shares of Alamar Biosciences during the 2nd quarter worth approximately $29,365,000. Wellington Management Group LLP acquired a new stake in Alamar Biosciences during the 2nd quarter valued at $12,407,000. Finally, Squarepoint Ops LLC acquired a new stake in Alamar Biosciences during the 2nd quarter valued at $283,000.

Alamar Biosciences Stock Up 2.2%

NASDAQ ALMR opened at $29.38 on Monday. Alamar Biosciences has a 12-month low of $18.84 and a 12-month high of $38.54. The firm has a 50 day simple moving average of $29.11. The firm has a market capitalization of $2.04 billion and a P/E ratio of -14.99. The company has a quick ratio of 10.23, a current ratio of 11.85 and a debt-to-equity ratio of 0.03.

Alamar Biosciences (NASDAQ:ALMR) last issued its quarterly earnings results on Tuesday, August 11th. The company reported ($0.22) EPS for the quarter, topping the consensus estimate of ($0.36) by $0.14. The business had revenue of $29.43 million for the quarter. As a group, sell-side analysts expect that Alamar Biosciences will post -1.23 EPS for the current year.

Alamar Biosciences Company Profile

Alamar Biosciences, Inc is a life sciences company developing technologies for highly sensitive protein detection and analysis. Its products are designed to help researchers identify and measure low-abundance biomarkers associated with diseases, including cancer, neurodegenerative disorders and immune-related conditions.

The company’s principal technology is the NULISA platform, which uses digital immunoassay methods to improve the sensitivity and multiplexing of protein biomarker analysis.