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

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

A number of other research analysts have also recently weighed in on the stock. TD Cowen started coverage on shares of Alamar Biosciences in a research report on Tuesday. They set a “buy” rating and a $30.00 price objective on the stock. Stifel Nicolaus assumed coverage on shares of Alamar Biosciences in a research report on Tuesday. They set a “buy” rating and a $28.00 price objective on the stock. JPMorgan Chase & Co. initiated coverage on shares of Alamar Biosciences in a report on Tuesday. They issued an “overweight” 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 research note on Saturday, April 25th. Four investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, Alamar Biosciences has an average rating of “Moderate Buy” and an average target price of $30.00.

Alamar Biosciences Stock Down 0.3%

ALMR stock opened at $23.88 on Tuesday. Alamar Biosciences has a twelve month low of $21.50 and a twelve month high of $27.20.

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

Insider Activity

In other Alamar Biosciences news, Director Nicholas Naclerio bought 235,294 shares of the company’s stock in a transaction on Monday, April 20th. The shares were 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 in the company, valued at approximately $8,620,292. The trade was a 86.57% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 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 shares were acquired at an average price of $17.00 per share, for a total transaction of $3,999,998.00. Following the completion of the acquisition, the insider owned 507,076 shares in the company, valued at $8,620,292. This represents a 86.57% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure.

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.