Alamar Biosciences, Inc. (NASDAQ:ALMR) Receives $31.80 Average Price Target from Brokerages

Alamar Biosciences, Inc. (NASDAQ:ALMR) has been given an average rating of “Hold” by the seven ratings firms that are currently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $31.80.

Several research firms have recently commented on ALMR. Weiss Ratings began coverage on Alamar Biosciences in a report on Tuesday, August 11th. They issued a “sell (d+)” rating on the stock. Stifel Nicolaus lifted their price objective on Alamar Biosciences from $28.00 to $32.00 and gave the company a “buy” rating in a research note on Tuesday, August 11th. TD Cowen reaffirmed a “buy” rating on shares of Alamar Biosciences in a research report on Wednesday, July 15th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Alamar Biosciences from $32.00 to $35.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 11th.

Alamar Biosciences Price Performance

NASDAQ ALMR opened at $34.85 on Monday. The stock has a market capitalization of $2.42 billion and a P/E ratio of -17.78. The firm’s 50-day simple moving average is $29.35. Alamar Biosciences has a 52 week low of $18.84 and a 52 week high of $38.54. The company has a debt-to-equity ratio of 0.03, a quick ratio of 10.23 and a current ratio of 11.85.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Squarepoint Ops LLC purchased a new position in shares of Alamar Biosciences during the second quarter valued at about $283,000. Braidwell LP bought a new position in shares of Alamar Biosciences during the 2nd quarter worth $29,365,000. Finally, Wellington Management Group LLP bought a new position in shares of Alamar Biosciences in the 2nd quarter worth $12,407,000.

About Alamar Biosciences

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.