Leerink initiated coverage of Alamar Biosciences with an Outperform rating and $35 price target. Core to the firm's thesis is the differentiated, highly automated ARGO HT instrument, NULISA technology/chemistry combined with "commercial excellence" under the leadership of CEO Yulingo Luo and the "experienced management team," Leerink says. The firm sees significant room for upside to its 75% CAGR from consumables, which supports healthy gross-margin expansion and accelerates the path to profitability.
