Alamar Biosciences (NASDAQ:ALMR) Rating Increased to Strong-Buy at TD Cowen

TD Cowen upgraded shares of Alamar Biosciences (NASDAQ:ALMR) to a strong-buy rating in a research report released on Tuesday morning,Zacks.com reports.

Several other research analysts have also issued reports on the company. Wall Street Zen raised Alamar Biosciences to a “hold” rating in a research report on Saturday, April 25th. 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. Leerink Partners began coverage on Alamar Biosciences in a research report on Tuesday. They set an “outperform” rating and a $35.00 price objective for the company. Stifel Nicolaus began coverage on Alamar Biosciences in a research report on Tuesday. They set a “buy” rating and a $28.00 price objective for the company. Finally, Bank of America began coverage on Alamar Biosciences in a research report on Tuesday. They set a “neutral” rating and a $27.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of $30.00.

Alamar Biosciences Stock Performance

NASDAQ ALMR opened at $22.97 on Tuesday. Alamar Biosciences has a fifty-two week low of $21.50 and a fifty-two week high of $27.20.

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

Insiders Place Their Bets

In other Alamar Biosciences news, major shareholder Innovation Fund Gp Illumina II bought 235,294 shares of Alamar Biosciences stock in a transaction on Monday, April 20th. The stock was acquired at an average price of $17.00 per share, with a total value of $3,999,998.00. Following the acquisition, the insider owned 507,076 shares in the company, valued at approximately $8,620,292. This trade represents a 86.57% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Nicholas Naclerio bought 235,294 shares of Alamar Biosciences stock in a transaction on Monday, April 20th. The stock was acquired at an average cost of $17.00 per share, with a total value of $3,999,998.00. Following the acquisition, the director owned 507,076 shares in the company, valued at approximately $8,620,292. This represents a 86.57% increase in their position. The SEC filing for this purchase provides additional information.

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.