Alamar Biosciences (NASDAQ:ALMR) Announces Quarterly Earnings Results

Alamar Biosciences (NASDAQ:ALMR) announced its quarterly earnings results on Monday. The company reported ($0.22) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.36) by $0.14, Zacks reports.

Alamar Biosciences Stock Performance

Shares of Alamar Biosciences stock traded down $0.47 during trading on Monday, reaching $27.99. The company’s stock had a trading volume of 270,182 shares, compared to its average volume of 298,410. The stock has a fifty day moving average price of $24.43. Alamar Biosciences has a one year low of $18.84 and a one year high of $29.43. The company has a market cap of $1.94 billion and a price-to-earnings ratio of -16.09.

Analysts Set New Price Targets

ALMR has been the topic of a number of analyst reports. Leerink Partners began coverage on Alamar Biosciences in a report on Tuesday, May 12th. They set an “outperform” rating and a $35.00 price objective on the stock. Wall Street Zen upgraded Alamar Biosciences to a “hold” rating in a report on Saturday, April 25th. JPMorgan Chase & Co. started coverage on Alamar Biosciences in a research report on Tuesday, May 12th. They set an “overweight” rating and a $30.00 target price for the company. Stifel Nicolaus assumed coverage on Alamar Biosciences in a report on Tuesday, May 12th. They set a “buy” rating and a $28.00 price target on the stock. Finally, Bank of America initiated coverage on shares of Alamar Biosciences in a research report on Tuesday, May 12th. They issued a “neutral” rating and a $27.00 price target on the stock. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $30.00.

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.