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 research note published on Friday. The brokerage currently has $3.00 price target on the biopharmaceutical company’s stock.
Separately, Zacks Investment Research raised shares of 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 company has a 50-day moving average price of $1.61 and a 200 day moving average price of $1.67. The company’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 released its earnings results on Wednesday, August 3rd. The biopharmaceutical company reported ($0.17) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.19) by $0.02. The business earned $3.80 million during the quarter, compared to analysts’ expectations of $8.42 million. During the same period last year, the business earned ($0.25) earnings per share. The company’s revenue for the quarter was up 65.5% compared to the same quarter last year. On average, equities research analysts forecast that Alimera Sciences will post ($0.53) EPS for the current fiscal year.
In other news, insider Richard S. Eiswirth, Jr. sold 51,471 shares of Alimera Sciences stock in a transaction that occurred on Thursday, September 15th. The shares were sold at an average price of $1.51, for a total transaction of $77,721.21. Following the sale, the insider now owns 86,445 shares of the company’s stock, valued at approximately $130,531.95. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 18.70% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the stock. Paloma Partners Management Co bought a new stake in Alimera Sciences during the second quarter valued at $140,000. State Street Corp increased its stake in 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. increased its stake in 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. Hedge funds and other institutional investors own 44.17% 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.
Receive News & Ratings for Alimera Sciences Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alimera Sciences Inc. and related companies with MarketBeat.com's FREE daily email newsletter.