Alamar Biosciences, Inc. (NASDAQ:ALMR) Stock Has Consensus Target Price of $31.80

Shares of Alamar Biosciences, Inc. (NASDAQ:ALMR) have received an average rating of “Moderate Buy” from the seven analysts that are covering the company, MarketBeat reports. Three equities research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $31.80.

A number of equities analysts have recently issued reports on ALMR shares. JPMorgan Chase & Co. increased their target price on Alamar Biosciences from $32.00 to $35.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 11th. TD Cowen reissued a “buy” rating on shares of Alamar Biosciences in a report on Wednesday, July 15th. Weiss Ratings upgraded Alamar Biosciences from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, October 8th. Finally, Stifel Nicolaus upped their price objective on Alamar Biosciences from $28.00 to $32.00 and gave the stock a “buy” rating in a report on Tuesday, August 11th.

Institutional Investors Weigh In On Alamar Biosciences

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Braidwell LP purchased a new stake in shares of Alamar Biosciences during the 2nd quarter worth $29,365,000. Wellington Management Group LLP purchased a new position in shares of Alamar Biosciences in the 2nd quarter valued at about $12,407,000. State Street Corp purchased a new position in shares of Alamar Biosciences in the 2nd quarter valued at about $3,930,000. Finally, Squarepoint Ops LLC purchased a new position in shares of Alamar Biosciences in the 2nd quarter valued at about $283,000.

Alamar Biosciences Price Performance

NASDAQ ALMR opened at $27.42 on Friday. Alamar Biosciences has a 52-week low of $18.84 and a 52-week high of $39.61. The business’s 50-day moving average price is $31.16. The company has a debt-to-equity ratio of 0.03, a current ratio of 11.85 and a quick ratio of 10.23.

Alamar Biosciences (NASDAQ:ALMR) last announced its quarterly earnings data on Tuesday, August 11th. The company reported ($0.22) EPS for the quarter, beating analysts’ consensus estimates of ($0.36) by $0.14. The firm had revenue of $29.43 million during the quarter. On average, analysts predict that Alamar Biosciences will post -1.23 EPS for the current year.

Alamar Biosciences Company Profile

Alamar Biosciences is a life sciences tools company focused on advancing proteomics, the study of proteins and their role in health and disease. The company develops technologies designed to enable highly sensitive, multiplexed analysis of proteins from small biological samples, supporting research in areas such as oncology, neurology, immunology and drug development.

Its primary offering is the NULISA platform, which uses proprietary digital immunoassay and molecular barcoding technologies to measure multiple protein biomarkers simultaneously.