Alamar Biosciences (NASDAQ:ALMR) Coverage Initiated at Leerink Partners

Equities researchers at Leerink Partners started coverage on shares of Alamar Biosciences (NASDAQ:ALMR) in a report issued on Tuesday. The brokerage set an “outperform” rating and a $35.00 price target on the stock. Leerink Partners’ target price suggests a potential upside of 46.57% from the company’s current price.

Several other equities analysts also recently weighed in on ALMR. Stifel Nicolaus initiated coverage on shares of Alamar Biosciences in a report on Tuesday. They set a “buy” rating and a $28.00 price target on the stock. JPMorgan Chase & Co. initiated coverage on shares of Alamar Biosciences in a report on Tuesday. They set an “overweight” rating and a $30.00 price target on the stock. TD Cowen initiated coverage on shares of Alamar Biosciences in a report on Tuesday. They set a “buy” rating and a $30.00 price target on the stock. Finally, Wall Street Zen raised shares of Alamar Biosciences to a “hold” rating in a report on Saturday, April 25th. Four research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $30.00.

Alamar Biosciences Stock Performance

Shares of NASDAQ ALMR opened at $23.88 on Tuesday. Alamar Biosciences has a 12-month low of $21.50 and a 12-month high of $27.20.

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

Insider Activity at Alamar Biosciences

In related news, major shareholder Innovation Fund Gp Illumina II bought 235,294 shares of the stock in a transaction dated Monday, April 20th. The shares were purchased at an average price of $17.00 per share, with a total value of $3,999,998.00. Following the completion of the acquisition, the insider owned 507,076 shares of the company’s stock, valued at $8,620,292. This represents a 86.57% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Nicholas Naclerio bought 235,294 shares of the stock in a transaction dated Monday, April 20th. The stock was bought at an average cost of $17.00 per share, for a total transaction of $3,999,998.00. Following the acquisition, the director directly owned 507,076 shares of the company’s stock, valued at approximately $8,620,292. This represents a 86.57% increase in their position. The disclosure for this purchase is available in the SEC filing.

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.