JPMorgan Chase & Co. Begins Coverage on Alamar Biosciences (NASDAQ:ALMR)

Equities researchers at JPMorgan Chase & Co. began coverage on shares of Alamar Biosciences (NASDAQ:ALMR) in a research note issued to investors on Tuesday, MarketBeat Ratings reports. The brokerage set an “overweight” rating and a $30.00 price target on the stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 30.38% from the company’s current price.

Other analysts have also recently issued research reports about the stock. Wall Street Zen raised shares of Alamar Biosciences to a “hold” rating in a report on Saturday, April 25th. Stifel Nicolaus assumed coverage on Alamar Biosciences in a report on Tuesday. They set a “buy” rating and a $28.00 price objective on the stock. Finally, TD Cowen started coverage on Alamar Biosciences in a report on Tuesday. They issued a “buy” rating and a $30.00 price objective for the company. Four research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $30.00.

Alamar Biosciences Stock Performance

NASDAQ ALMR opened at $23.01 on Tuesday. Alamar Biosciences has a 52 week low of $21.50 and a 52 week high of $27.20.

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

Insider Buying and Selling

In related news, Director Nicholas Naclerio purchased 235,294 shares of the business’s stock in a transaction dated Monday, April 20th. The stock was acquired at an average price 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 $8,620,292. This trade represents a 86.57% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Innovation Fund Gp Illumina II bought 235,294 shares of the company’s stock in a transaction on Monday, April 20th. The stock was bought at an average cost 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 position. The disclosure for this purchase is available in the SEC filing.

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.