Alamar Biosciences (NASDAQ:ALMR) Upgraded by TD Cowen to “Strong-Buy” Rating

Alamar Biosciences (NASDAQ:ALMR) was upgraded by research analysts at TD Cowen to a “strong-buy” rating in a report released on Tuesday,Zacks.com reports.

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

Alamar Biosciences Trading Down 3.8%

Shares of NASDAQ:ALMR opened at $22.97 on Tuesday. Alamar Biosciences has a 1 year low of $21.50 and a 1 year 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 business had revenue of $26.04 million during the quarter.

Insider Activity

In other news, Director Nicholas Naclerio bought 235,294 shares of the stock in a transaction dated Monday, April 20th. The shares were acquired at an average cost of $17.00 per share, with a total value of $3,999,998.00. Following the purchase, the director directly owned 507,076 shares in the company, valued at $8,620,292. The trade was a 86.57% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, 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, with a total value of $3,999,998.00. Following the transaction, the insider owned 507,076 shares in the company, valued at approximately $8,620,292. The trade was a 86.57% increase in their ownership of the stock. 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.