Alamar Biosciences, Inc. (NASDAQ:ALMR) Given Average Rating of "Hold" by Analysts

Key Points

• Analysts assign Alamar Biosciences an average “Hold” rating, with four buys, two holds and one sell among seven analysts. The average 12-month price target is $31.80.
• Wellington Management initiated a position of 457,974 shares valued at approximately $12.4 million, representing about 0.66% of the company.
• Alamar reported quarterly revenue of $29.43 million and an adjusted loss of $0.22 per share, beating the consensus loss estimate of $0.36. Shares opened at $35.54, up 7.8%, while analysts project a full-year loss of $1.23 per share.

Alamar Biosciences, Inc. (NASDAQ:ALMR - Get Free Report) has been assigned a consensus recommendation of "Hold" from the seven analysts that are covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $31.80.

Several equities research analysts recently issued reports on ALMR shares. Bank of America started coverage on Alamar Biosciences in a research note on Tuesday, May 12th. They set a "neutral" rating and a $27.00 price objective for the company. Wall Street Zen raised Alamar Biosciences to a "hold" rating in a report on Saturday, April 25th. Weiss Ratings started coverage on Alamar Biosciences in a research report on Tuesday, August 11th. They set a "sell (d+)" rating for the company. Stifel Nicolaus upped their price objective on shares of Alamar Biosciences from $28.00 to $32.00 and gave the stock a "buy" rating in a research report on Tuesday, August 11th. Finally, TD Cowen reaffirmed a "buy" rating on shares of Alamar Biosciences in a research note on Wednesday, July 15th.

Institutional Trading of Alamar Biosciences

A hedge fund recently bought a new position in Alamar Biosciences stock. Wellington Management Group LLP bought a new stake in Alamar Biosciences, Inc. (NASDAQ:ALMR - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 457,974 shares of the company's stock, valued at approximately $12,407,000. Wellington Management Group LLP owned about 0.66% of Alamar Biosciences as of its most recent SEC filing.

Alamar Biosciences Trading Up 7.8%

Shares of NASDAQ ALMR opened at $35.54 on Thursday. The company has a current ratio of 11.85, a quick ratio of 10.23 and a debt-to-equity ratio of 0.03. The firm's fifty day moving average price is $26.42. Alamar Biosciences has a 1-year low of $18.84 and a 1-year high of $38.54. The company has a market capitalization of $2.47 billion and a price-to-earnings ratio of -18.13.

Alamar Biosciences (NASDAQ:ALMR - Get Free Report) last posted its quarterly earnings results on Tuesday, August 11th. The company reported ($0.22) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.36) by $0.14. The business had revenue of $29.43 million during the quarter. Analysts forecast that Alamar Biosciences will post -1.23 EPS for the current year.

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.

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