Zacks Investment Research cut shares of Alimera Sciences Inc. (NASDAQ:ALIM) from a hold rating to a sell rating in a research report released on Monday.
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 hold rating on shares of Alimera Sciences in a report on Tuesday, July 26th.
Shares of Alimera Sciences (NASDAQ:ALIM) opened at 1.11 on Monday. The stock’s market cap is $72.00 million. Alimera Sciences has a 12-month low of $1.01 and a 12-month high of $5.15. The company’s 50-day moving average is $1.29 and its 200-day moving average is $1.48.
Alimera Sciences (NASDAQ:ALIM) last released its quarterly earnings results on Wednesday, November 2nd. The biopharmaceutical company reported ($0.16) earnings per share for the quarter, missing the consensus estimate of ($0.11) by $0.05. The company had revenue of $8.30 million for the quarter, compared to analyst estimates of $10.53 million. The firm’s quarterly revenue was up 20.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.21) EPS. On average, equities research analysts anticipate that Alimera Sciences will post ($0.54) earnings per share for the current year.
In other news, insider Richard S. Eiswirth, Jr. sold 51,471 shares of the business’s stock in a transaction 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 in the company, valued at approximately $130,531.95. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 14.00% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. Great Point Partners LLC acquired a new stake in shares of Alimera Sciences during the third quarter worth approximately $3,931,000. Sphera Funds Management LTD. purchased a new position in shares of Alimera Sciences during the third quarter worth about $299,000. Spark Investment Management LLC purchased a new position in shares of Alimera Sciences during the third quarter worth about $262,000. Paloma Partners Management Co purchased a new position in shares of Alimera Sciences during the second quarter worth about $140,000. Finally, Northern Trust Corp boosted its position in shares of 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. Hedge funds and other institutional investors own 31.80% 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.