Alamar Biosciences, Inc. (NASDAQ:ALMR) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of Alamar Biosciences, Inc. (NASDAQ:ALMR) have earned a consensus rating of “Moderate Buy” from the five analysts that are covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating on the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $30.00.

Several research analysts have weighed in on the company. Leerink Partners assumed coverage on Alamar Biosciences in a research note on Tuesday. They issued an “outperform” rating and a $35.00 price target for the company. Stifel Nicolaus assumed coverage on shares of Alamar Biosciences in a report on Tuesday. They issued a “buy” rating and a $28.00 price target on the stock. TD Cowen started coverage on shares of Alamar Biosciences in a report on Tuesday. They set a “buy” rating and a $30.00 price objective for the company. JPMorgan Chase & Co. began coverage on Alamar Biosciences in a research report on Tuesday. They set an “overweight” rating and a $30.00 price objective for the company. Finally, Bank of America began coverage on Alamar Biosciences in a report on Tuesday. They issued a “neutral” rating and a $27.00 target price on the stock.

Alamar Biosciences Stock Up 3.3%

Shares of ALMR stock traded up $0.78 during trading hours on Tuesday, reaching $24.66. 14,548 shares of the company traded hands, compared to its average volume of 327,310. Alamar Biosciences has a 12-month low of $21.50 and a 12-month high of $27.20.

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

Insider Buying and Selling

In other Alamar Biosciences news, major shareholder Innovation Fund Gp Illumina II purchased 235,294 shares of Alamar Biosciences stock in a transaction that occurred on Monday, April 20th. The shares were bought at an average price of $17.00 per share, for a total transaction of $3,999,998.00. Following the completion of the transaction, the insider owned 507,076 shares of the company’s stock, valued at approximately $8,620,292. This trade represents a 86.57% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Nicholas Naclerio purchased 235,294 shares of the firm’s stock in a transaction that occurred on Monday, April 20th. The shares were acquired at an average cost of $17.00 per share, for a total transaction of $3,999,998.00. Following the purchase, the director owned 507,076 shares of the company’s stock, valued at $8,620,292. This represents a 86.57% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing.

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.