Alamar Biosciences, Inc. (NASDAQ:ALMR) Receives Average Rating of “Moderate Buy” from Brokerages

Alamar Biosciences, Inc. (NASDAQ:ALMR) has been given an average recommendation of “Moderate Buy” by the six ratings firms that are currently covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1-year target price among brokers that have covered the stock in the last year is $30.00.

Several analysts recently weighed in on ALMR shares. JPMorgan Chase & Co. assumed coverage on Alamar Biosciences in a report on Tuesday, May 12th. They set an “overweight” rating and a $30.00 price target on the stock. Bank of America assumed coverage on Alamar Biosciences in a research report on Tuesday, May 12th. They issued a “neutral” rating and a $27.00 price objective on the stock. Wall Street Zen raised Alamar Biosciences to a “hold” rating in a research report on Saturday, April 25th. Leerink Partners assumed coverage on Alamar Biosciences in a research report on Tuesday, May 12th. They issued an “outperform” rating and a $35.00 price objective on the stock. Finally, Stifel Nicolaus assumed coverage on Alamar Biosciences in a research report on Tuesday, May 12th. They issued a “buy” rating and a $28.00 price objective on the stock.

Insider Buying and Selling at Alamar Biosciences

In other Alamar Biosciences news, major shareholder Innovation Fund Gp Illumina II acquired 235,294 shares of the business’s stock in a transaction on Monday, April 20th. The shares were bought at an average price of $17.00 per share, with a total value of $3,999,998.00. Following the transaction, the insider directly owned 507,076 shares of the company’s stock, valued at $8,620,292. The trade was a 86.57% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, Director Nicholas Naclerio acquired 235,294 shares of the business’s stock in a transaction on Monday, April 20th. The stock was acquired at an average cost of $17.00 per share, for a total transaction of $3,999,998.00. Following the transaction, the director directly owned 507,076 shares in the company, valued at $8,620,292. The trade was a 86.57% increase in their ownership of the stock. The SEC filing for this purchase provides additional information.

Alamar Biosciences Stock Performance

NASDAQ:ALMR opened at $27.09 on Wednesday. The firm’s fifty day moving average is $22.49. Alamar Biosciences has a fifty-two week low of $18.84 and a fifty-two week high of $28.68.

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

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.