Alamar Biosciences, Inc. (NASDAQ:ALMR) Receives Average Recommendation of “Hold” from Brokerages

Shares of Alamar Biosciences, Inc. (NASDAQ:ALMR) have been assigned an average recommendation of “Hold” from the seven research firms that are presently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $31.80.

A number of equities analysts recently commented on the stock. Stifel Nicolaus lifted their target price on shares of Alamar Biosciences from $28.00 to $32.00 and gave the stock a “buy” rating in a research report on Tuesday, August 11th. Zacks Research upgraded shares of Alamar Biosciences to a “hold” rating in a research report on Wednesday, May 13th. JPMorgan Chase & Co. lifted their price objective on Alamar Biosciences from $32.00 to $35.00 and gave the stock an “overweight” rating in a report on Tuesday, August 11th. Leerink Partners assumed coverage on Alamar Biosciences in a research note on Tuesday, May 12th. They issued an “outperform” rating and a $35.00 target price for the company. Finally, Weiss Ratings started coverage on Alamar Biosciences in a report on Tuesday, August 11th. They set a “sell (d+)” rating for the company.

Institutional Investors Weigh In On Alamar Biosciences

An institutional investor recently bought a new stake in Alamar Biosciences stock. Wellington Management Group LLP purchased a new stake in shares of Alamar Biosciences, Inc. (NASDAQ:ALMR) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 457,974 shares of the company’s stock, valued at approximately $12,407,000. Wellington Management Group LLP owned 0.66% of Alamar Biosciences as of its most recent SEC filing.

Alamar Biosciences Price Performance

NASDAQ:ALMR opened at $35.54 on Thursday. The company has a market cap of $2.47 billion and a P/E ratio of -18.13. The stock has a 50 day moving average price of $26.42. 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 has a 1-year low of $18.84 and a 1-year high of $38.54.

Alamar Biosciences (NASDAQ:ALMR) last posted 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 anticipate that Alamar Biosciences will post -1.23 EPS for the current year.

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.