Bank of America Initiates Coverage on Alamar Biosciences (NASDAQ:ALMR)

Analysts at Bank of America began coverage on shares of Alamar Biosciences (NASDAQ:ALMR) in a research report issued on Tuesday, Marketbeat reports. The firm set a “neutral” rating and a $27.00 price target on the stock. Bank of America‘s target price indicates a potential upside of 17.34% from the stock’s previous close.

Several other research analysts also recently issued reports on ALMR. Wall Street Zen raised Alamar Biosciences to a “hold” rating in a research note on Saturday, April 25th. Stifel Nicolaus assumed coverage on Alamar Biosciences in a research report on Tuesday. They issued a “buy” rating and a $28.00 price target on the stock. Leerink Partners assumed coverage on Alamar Biosciences in a research note on Tuesday. They issued an “outperform” rating and a $35.00 price objective on the stock. JPMorgan Chase & Co. began coverage on shares of Alamar Biosciences in a research report on Tuesday. They set an “overweight” rating and a $30.00 target price for the company. Finally, TD Cowen assumed coverage on shares of Alamar Biosciences in a report on Tuesday. They set a “buy” rating and a $30.00 price target for the company. Four investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, Alamar Biosciences currently has an average rating of “Moderate Buy” and an average price target of $30.00.

Alamar Biosciences Trading Up 0.2%

NASDAQ ALMR opened at $23.01 on Tuesday. Alamar Biosciences has a 1 year low of $21.50 and a 1 year high of $27.20.

Alamar Biosciences (NASDAQ:ALMR) last released its earnings results on Friday, May 8th. The company reported ($1.74) earnings per share (EPS) for the quarter. The business had revenue of $26.04 million during the quarter.

Insider Activity

In other Alamar Biosciences news, Director Nicholas Naclerio bought 235,294 shares of the firm’s stock in a transaction that occurred on Monday, April 20th. The stock was acquired at an average price of $17.00 per share, with a total value of $3,999,998.00. Following the completion of the purchase, the director directly owned 507,076 shares of the company’s stock, valued at approximately $8,620,292. This trade represents a 86.57% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Innovation Fund Gp Illumina II bought 235,294 shares of the firm’s stock in a transaction that occurred on Monday, April 20th. The shares were acquired at an average cost of $17.00 per share, with a total value of $3,999,998.00. Following the purchase, the insider directly owned 507,076 shares of the company’s stock, valued at $8,620,292. This trade represents a 86.57% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure.

About Alamar Biosciences

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.