Alimera Sciences Inc. (ALIM) Rating Increased to Hold at Zacks Investment Research
Alimera Sciences Inc. (NASDAQ:ALIM) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Tuesday.
According to Zacks, “Alimera Sciences, Inc., based in Alpharetta, Georgia, is a biopharmaceutical company that specializes in the research, development and commercialization of prescription ophthalmic pharmaceuticals. The Company is presently focused on diseases affecting the back of the eye, or retina because it believes these diseases are not well treated with current therapies and represent a significant market opportunity. Its product candidate Iluvien(R) is an intravitreal insert containing fluocinolone acetonide, a non-proprietary corticosteroid with demonstrated efficacy in the treatment of ocular disease. Iluvien is in development for the treatment of diabetic macular edema (DME). DME is a disease of the retina that affects individuals with diabetes and can lead to severe vision loss and blindness. “
Separately, Cowen and Company reiterated a “market perform” rating and set a $2.00 target price on shares of Alimera Sciences in a report on Friday, August 5th.
Alimera Sciences (NASDAQ:ALIM) opened at 1.10 on Tuesday. The stock’s market cap is $71.35 million. Alimera Sciences has a 52 week low of $1.01 and a 52 week high of $5.15. The stock has a 50 day moving average price of $1.26 and a 200-day moving average price of $1.47.
Alimera Sciences (NASDAQ:ALIM) last posted its earnings results on Wednesday, November 2nd. The biopharmaceutical company reported ($0.16) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.11) by $0.05. The firm had revenue of $8.30 million for the quarter, compared to the consensus estimate of $10.53 million. The company’s revenue for the quarter was up 20.3% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.21) EPS. On average, equities analysts anticipate that Alimera Sciences will post ($0.54) EPS for the current fiscal year.
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In other news, insider Richard S. Eiswirth, Jr. sold 51,471 shares of the stock in a transaction dated Thursday, September 15th. The shares were sold at an average price of $1.51, for a total transaction of $77,721.21. Following the completion of the sale, the insider now directly owns 86,445 shares in the company, valued at $130,531.95. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 14.00% of the company’s stock.
A number of hedge funds have recently modified their holdings of the company. Great Point Partners LLC bought a new stake in shares of Alimera Sciences during the third quarter valued at approximately $3,931,000. Vanguard Group Inc. raised its stake in shares of Alimera Sciences by 2.3% in the second quarter. Vanguard Group Inc. now owns 1,156,193 shares of the biopharmaceutical company’s stock valued at $1,422,000 after buying an additional 25,804 shares during the period. Sphera Funds Management LTD. bought a new stake in shares of Alimera Sciences during the third quarter valued at approximately $299,000. Spark Investment Management LLC bought a new stake in shares of Alimera Sciences during the third quarter valued at approximately $262,000. Finally, Paloma Partners Management Co bought a new stake in shares of Alimera Sciences during the second quarter valued at approximately $140,000. Institutional investors and hedge funds own 53.27% of the company’s stock.
About Alimera Sciences
Alimera Sciences, Inc (Alimera) is a pharmaceutical company. The Company is engaged in the research, development and commercialization of prescription ophthalmic pharmaceuticals. The Company operates through two segments: U.S. and International. The Company focuses on diseases affecting the back of the eye or retina.
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