Alimera Sciences Inc. (ALIM) Rating Increased to Outperform at Cowen and Company
Cowen and Company upgraded shares of Alimera Sciences Inc. (NASDAQ:ALIM) from a market perform rating to an outperform rating in a report released on Friday. They currently have $3.00 price objective on the biopharmaceutical company’s stock.
Separately, Zacks Investment Research raised Alimera Sciences from a sell rating to a hold rating in a research note on Monday, June 6th.
Alimera Sciences (NASDAQ:ALIM) opened at 1.65 on Friday. The firm’s 50-day moving average price is $1.61 and its 200-day moving average price is $1.67. The stock’s market cap is $75.50 million. Alimera Sciences has a 52 week low of $1.01 and a 52 week high of $5.15.
Alimera Sciences (NASDAQ:ALIM) last issued its quarterly earnings data on Wednesday, August 3rd. The biopharmaceutical company reported ($0.17) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.19) by $0.02. The company had revenue of $3.80 million for the quarter, compared to the consensus estimate of $8.42 million. During the same period in the previous year, the firm earned ($0.25) earnings per share. The company’s revenue was up 65.5% compared to the same quarter last year. Equities analysts predict that Alimera Sciences will post ($0.53) earnings per share for the current fiscal year.
In related news, insider Richard S. Eiswirth, Jr. sold 51,471 shares of the stock in a transaction that occurred on Thursday, September 15th. The stock was sold at an average price of $1.51, for a total value of $77,721.21. Following the transaction, the insider now owns 86,445 shares of the company’s stock, valued at $130,531.95. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 18.70% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Paloma Partners Management Co purchased a new position in shares of Alimera Sciences during the second quarter valued at about $140,000. State Street Corp boosted its position in shares of Alimera Sciences by 15.1% in the first quarter. State Street Corp now owns 360,176 shares of the biopharmaceutical company’s stock valued at $630,000 after buying an additional 47,220 shares during the period. Finally, Vanguard Group Inc. boosted its position 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. 44.17% of the stock is currently owned by institutional investors.
Alimera Sciences Company Profile
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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