Zacks Investment Research Upgrades Alimera Sciences Inc. (ALIM) to “Hold”
Alimera Sciences Inc. (NASDAQ:ALIM) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued 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 reaffirmed a “market perform” rating and set a $2.00 price target on shares of Alimera Sciences in a report on Friday, August 5th.
Alimera Sciences (NASDAQ:ALIM) traded down 0.88% during mid-day trading on Tuesday, reaching $1.12. 248,599 shares of the company were exchanged. The stock has a 50 day moving average of $1.26 and a 200-day moving average of $1.47. Alimera Sciences has a one year low of $1.01 and a one year high of $5.15. The stock’s market capitalization is $72.65 million.
Alimera Sciences (NASDAQ:ALIM) last announced its quarterly earnings results on Wednesday, November 2nd. The biopharmaceutical company reported ($0.16) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by $0.05. The firm had revenue of $8.30 million for the quarter, compared to analysts’ expectations of $10.53 million. The firm’s revenue was up 20.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.21) earnings per share. On average, equities analysts expect that Alimera Sciences will post ($0.54) earnings per share for the current fiscal year.
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In related news, insider Richard S. Eiswirth, Jr. sold 51,471 shares of the firm’s stock in a transaction that occurred on Thursday, September 15th. The shares were 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 14.00% of the stock is currently owned by corporate insiders.
Several institutional investors have recently bought and sold shares of ALIM. Vanguard Group Inc. increased its position 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 worth $1,422,000 after buying an additional 25,804 shares during the last quarter. Paloma Partners Management Co acquired a new position in Alimera Sciences during the second quarter worth about $140,000. PNC Financial Services Group Inc. increased its position in Alimera Sciences by 107.3% in the third quarter. PNC Financial Services Group Inc. now owns 95,100 shares of the biopharmaceutical company’s stock worth $142,000 after buying an additional 49,215 shares during the last quarter. Northern Trust Corp increased its position in Alimera Sciences by 108.9% in the third quarter. Northern Trust Corp now owns 105,320 shares of the biopharmaceutical company’s stock worth $157,000 after buying an additional 54,906 shares during the last quarter. Finally, Spark Investment Management LLC acquired a new position in Alimera Sciences during the third quarter worth about $262,000. 53.27% of the stock is currently owned by institutional investors.
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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