Stifel Reiterates Buy Rating on Alamar Biosciences (ALMR)

Stifel analyst Daniel Arias reiterated a Buy rating and $28.00 price target on Alamar Biosciences (NASDAQ: ALMR).

The analyst commented, "We met with ALMR mgmt last week. No real new ground was broken, but the business appears to be performing well when it comes to expanding usage of the company's Argo platform. The focus thus remains on building out the instrumentation base, while driving adoption within the "beachhead" application areas – most notably neuro, where Alzheimer’s work levels seem robust. To that point, adoption of the new CNS 220 panel seems to be tracking well - and should become the flagship assay over time. While mgmt continues to point to the progression of an annualized pull-through rate that reflects the growing installed base through a downward trend, we still view better-than-modeled consumables levels in 3Q/4Q as a good source of upside. Post the IPO, we continue to see ALMR as name to own for longer-term/thematic portfolios - and should Tools momentum continue to build, 2H offers a solid opportunity for shares."

For an analyst ratings summary and ratings history on Alamar Biosciences click here. For more ratings news on Alamar Biosciences click here.

Shares of Alamar Biosciences closed at $19.21 yesterday.

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