Analysts Set Alamar Biosciences, Inc. (NASDAQ:ALMR) PT at $31.80

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

ALMR has been the topic of several recent analyst reports. TD Cowen reiterated a “buy” rating on shares of Alamar Biosciences in a research note on Wednesday, July 15th. 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. Stifel Nicolaus upped their target price on Alamar Biosciences from $28.00 to $32.00 and gave the company a “buy” rating in a research report on Tuesday, August 11th. Finally, Weiss Ratings initiated coverage on shares of Alamar Biosciences in a research report on Tuesday, August 11th. They set a “sell (d+)” rating for the company.

Hedge Funds Weigh In On Alamar Biosciences

Large investors have recently modified their holdings of the stock. Squarepoint Ops LLC acquired a new position in shares of Alamar Biosciences in the 2nd quarter worth approximately $283,000. Braidwell LP acquired a new stake in shares of Alamar Biosciences during the 2nd quarter valued at approximately $29,365,000. Finally, Wellington Management Group LLP bought a new position in Alamar Biosciences during the second quarter worth $12,407,000.

Alamar Biosciences Trading Up 8.9%

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

Alamar Biosciences (NASDAQ:ALMR) last released its quarterly earnings results on Tuesday, August 11th. The company reported ($0.22) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.36) by $0.14. The company had revenue of $29.43 million during the quarter. Equities research analysts expect that Alamar Biosciences will post -1.23 EPS for the current fiscal year.

Alamar Biosciences Company Profile

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.