Alamar Biosciences, Inc. (NASDAQ:ALMR) Stock Has Average Target Price of $31.80 According to Brokerages

Shares of Alamar Biosciences, Inc. (NASDAQ:ALMR) have been given an average recommendation of “Moderate Buy” by the seven ratings firms that are presently covering the company, Marketbeat.com reports. Three investment analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $31.80.

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

Alamar Biosciences Stock Down 3.0%

Shares of NASDAQ:ALMR opened at $23.52 on Friday. 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 company has a 50-day simple moving average of $31.23. Alamar Biosciences has a 52-week low of $18.84 and a 52-week high of $39.61.

Alamar Biosciences (NASDAQ:ALMR) last posted its quarterly earnings data on Tuesday, August 11th. The company reported ($0.22) earnings per share for the quarter, topping the consensus estimate of ($0.36) by $0.14. The business had revenue of $29.43 million for the quarter. On average, analysts expect that Alamar Biosciences will post -1.23 earnings per share for the current year.

Institutional Investors Weigh In On Alamar Biosciences

Institutional investors have recently added to or reduced their stakes in the company. Braidwell LP bought a new position in Alamar Biosciences during the second quarter valued at about $29,365,000. Wellington Management Group LLP bought a new stake in shares of Alamar Biosciences in the 2nd quarter worth approximately $12,407,000. State Street Corp bought a new stake in shares of Alamar Biosciences in the 2nd quarter worth approximately $3,930,000. Finally, Squarepoint Ops LLC acquired a new stake in shares of Alamar Biosciences during the 2nd quarter worth approximately $283,000.

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.