Alere Given New $38.00 Price Target at Leerink Swann (ALR)
Leerink Swann dropped their target price on shares of Alere (NYSE:ALR) from $40.00 to $38.00 in a research note issued on Tuesday. The firm currently has a “market perform” rating on the stock. Leerink Swann’s price target would indicate a potential upside of 5.85% from the company’s current price.
Other equities research analysts have also recently issued reports about the stock. Analysts at Canaccord Genuity cut their price target on shares of Alere from $50.00 to $45.00 in a research note on Tuesday. Separately, analysts at Zacks upgraded shares of Alere from an “underperform” rating to a “neutral” rating in a research note on Thursday, July 10th. They now have a $38.70 price target on the stock. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $41.95.
Shares of Alere (NYSE:ALR) traded up 3.31% during mid-day trading on Tuesday, hitting $35.90. 1,552,890 shares of the company’s stock traded hands. Alere has a 52-week low of $29.61 and a 52-week high of $40.80. The stock’s 50-day moving average is $38.13 and its 200-day moving average is $36.34. The company’s market cap is $2.965 billion.
Alere (NYSE:ALR) last released its earnings data on Monday, August 4th. The company reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by $0.16. The company had revenue of $738.30 million for the quarter, compared to the consensus estimate of $747.55 million. During the same quarter in the previous year, the company posted $0.64 earnings per share. The company’s revenue for the quarter was down 3.4% on a year-over-year basis. Analysts expect that Alere will post $2.52 EPS for the current fiscal year.
Alere Inc is a provider of point-of-care diagnostics and services. The Company’s products and services help healthcare practitioners make treatment decisions and improve outcomes for individuals living with chronic disease.
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