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

Key Points

• Analysts have a consensus “Hold” rating on Alamar Biosciences, with four buys, two holds, and one sell among seven covering firms. The average 12-month price target is $31.80.
• Several analysts raised their price targets, including JPMorgan to $35 and Stifel to $32, while Weiss Ratings initiated coverage with a “sell” rating.
• 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 $25.91, below their 50-day moving average of $31.36.

Shares of Alamar Biosciences, Inc. (NASDAQ:ALMR - Get Free Report) have been assigned a consensus recommendation of "Hold" from the seven brokerages that are currently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $31.80.

A number of equities research analysts have recently weighed in on the stock. TD Cowen reaffirmed a "buy" rating on shares of Alamar Biosciences in a research note on Wednesday, July 15th. 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 report on Tuesday, August 11th. Stifel Nicolaus lifted their price objective on Alamar Biosciences from $28.00 to $32.00 and gave the company a "buy" rating in a research report on Tuesday, August 11th. Finally, Weiss Ratings assumed coverage on Alamar Biosciences in a report on Tuesday, August 11th. They set a "sell (d+)" rating on the stock.

Hedge Funds Weigh In On Alamar Biosciences

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

Alamar Biosciences Stock Down 6.7%

Shares of ALMR stock opened at $25.91 on Friday. The business has a fifty day simple moving average of $31.36. Alamar Biosciences has a 52 week low of $18.84 and a 52 week high of $39.61. The stock has a market capitalization of $1.80 billion and a price-to-earnings ratio of -13.22. The company has a debt-to-equity ratio of 0.03, a current ratio of 11.85 and a quick ratio of 10.23.

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

About Alamar Biosciences

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.

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