Alimera Sciences Inc. (ALIM) Lifted 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 issued 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 and set a $1.50 price target on the stock in a research report on Wednesday, July 6th.
Shares of Alimera Sciences (NASDAQ:ALIM) opened at 1.64 on Friday. The stock’s 50 day moving average is $1.62 and its 200-day moving average is $1.67. Alimera Sciences has a one year low of $1.01 and a one year high of $5.15. The company’s market cap is $75.04 million.
Alimera Sciences (NASDAQ:ALIM) last released its quarterly earnings results on Wednesday, August 3rd. The biopharmaceutical company reported ($0.17) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.02. The firm 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 business earned ($0.25) earnings per share. The firm’s revenue for the quarter was up 65.5% on a year-over-year basis. Equities research analysts forecast that Alimera Sciences will post ($0.53) earnings per share for the current year.
In other news, insider Richard S. Eiswirth, Jr. sold 51,471 shares of Alimera Sciences stock in a transaction dated Thursday, September 15th. The shares were sold at an average price of $1.51, for a total value of $77,721.21. Following the completion of the transaction, the insider now owns 86,445 shares in the company, valued at $130,531.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 18.70% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. Paloma Partners Management Co acquired a new position in Alimera Sciences during the second quarter valued at $140,000. State Street Corp increased its position 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 last quarter. Finally, 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 valued at $1,422,000 after buying an additional 25,804 shares during the last quarter. 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.
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