Alamar Biosciences, Inc. (NASDAQ:ALMR) Receives Average Recommendation of "Hold" from Brokerages

Key Points

• Analyst consensus is “Hold”: Seven firms cover Alamar Biosciences, with four buys, two holds and one sell. The average 12-month price target is $31.80.
• Institutional interest increased: Wellington Management and Braidwell established sizable positions during the second quarter, valued at approximately $12.4 million and $29.4 million, respectively.
• Quarterly results beat expectations: Alamar reported a quarterly loss of $0.22 per share, better than the $0.36 loss analysts expected, on revenue of $29.43 million. Analysts forecast a full-year loss of $1.23 per share.

Alamar Biosciences, Inc. (NASDAQ:ALMR - Get Free Report) has received a consensus recommendation of "Hold" from the seven research firms that are presently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and four have issued a buy recommendation on the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $31.80.

ALMR has been the topic of several recent analyst reports. Stifel Nicolaus boosted their price target on Alamar Biosciences from $28.00 to $32.00 and gave the stock a "buy" rating in a research note on Tuesday, August 11th. JPMorgan Chase & Co. raised their price objective on Alamar Biosciences from $32.00 to $35.00 and gave the company an "overweight" rating in a research note on Tuesday, August 11th. TD Cowen restated a "buy" rating on shares of Alamar Biosciences in a report on Wednesday, July 15th. Finally, Weiss Ratings began coverage on Alamar Biosciences in a research report on Tuesday, August 11th. They issued a "sell (d+)" rating on the stock.

Institutional Trading of Alamar Biosciences

Several institutional investors and hedge funds have recently bought and sold shares of the company. California State Teachers Retirement System acquired a new stake in shares of Alamar Biosciences during the 2nd quarter valued at approximately $134,000. Squarepoint Ops LLC acquired a new stake in Alamar Biosciences in the second quarter worth $283,000. Wellington Management Group LLP acquired a new stake in Alamar Biosciences in the second quarter worth $12,407,000. Finally, Braidwell LP bought a new stake in Alamar Biosciences in the second quarter valued at $29,365,000.

Alamar Biosciences Stock Performance

ALMR opened at $27.89 on Monday. Alamar Biosciences has a twelve month low of $18.84 and a twelve month high of $38.54. The firm has a market cap of $1.94 billion and a price-to-earnings ratio of -14.23. 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's fifty day moving average price is $28.91.

Alamar Biosciences (NASDAQ:ALMR - Get Free Report) last issued its quarterly earnings data on Tuesday, August 11th. The company reported ($0.22) EPS for the quarter, topping analysts' consensus estimates of ($0.36) by $0.14. The firm had revenue of $29.43 million during the quarter. On average, analysts forecast that Alamar Biosciences will post -1.23 earnings per share for the current fiscal year.

Alamar Biosciences Company Profile

Alamar Biosciences, Inc is a life sciences company developing technologies for highly sensitive protein detection and analysis. Its products are designed to help researchers identify and measure low-abundance biomarkers associated with diseases, including cancer, neurodegenerative disorders and immune-related conditions.

The company's principal technology is the NULISA platform, which uses digital immunoassay methods to improve the sensitivity and multiplexing of protein biomarker analysis.

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