Alimera Sciences (NASDAQ:ALIM) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors 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. “
Several other equities research analysts have also commented on the company. HC Wainwright restated a “buy” rating and issued a $5.00 price objective on shares of Alimera Sciences in a research report on Monday, January 22nd. ValuEngine downgraded Alimera Sciences from a “sell” rating to a “strong sell” rating in a research note on Sunday, December 3rd. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company’s stock. Alimera Sciences presently has an average rating of “Hold” and an average target price of $3.31.
Alimera Sciences stock remained flat at $$1.03 during mid-day trading on Monday. The company’s stock had a trading volume of 59,699 shares, compared to its average volume of 151,743. The company has a current ratio of 4.07, a quick ratio of 3.91 and a debt-to-equity ratio of -0.64. Alimera Sciences has a 1-year low of $1.01 and a 1-year high of $1.70. The stock has a market cap of $72.08, a price-to-earnings ratio of -3.55 and a beta of 1.72.
Alimera Sciences (NASDAQ:ALIM) last released its quarterly earnings data on Wednesday, February 28th. The biopharmaceutical company reported ($0.10) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.03) by ($0.07). The business had revenue of $9.14 million during the quarter, compared to analyst estimates of $9.60 million. sell-side analysts forecast that Alimera Sciences will post -0.06 earnings per share for the current fiscal year.
In other news, SVP Philip Ashman sold 25,500 shares of the company’s stock in a transaction that occurred on Friday, January 19th. The stock was sold at an average price of $1.20, for a total transaction of $30,600.00. Following the completion of the transaction, the senior vice president now directly owns 12,750 shares of the company’s stock, valued at approximately $15,300. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO C. Daniel Myers sold 52,900 shares of the company’s stock in a transaction that occurred on Friday, January 19th. The stock was sold at an average price of $1.20, for a total value of $63,480.00. Following the transaction, the chief executive officer now directly owns 101,511 shares of the company’s stock, valued at $121,813.20. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 184,704 shares of company stock valued at $224,432. Corporate insiders own 14.70% of the company’s stock.
A hedge fund recently raised its stake in Alimera Sciences stock. Armistice Capital LLC boosted its position in Alimera Sciences (NASDAQ:ALIM) by 8.7% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,812,000 shares of the biopharmaceutical company’s stock after purchasing an additional 548,000 shares during the quarter. Armistice Capital LLC owned about 9.85% of Alimera Sciences worth $9,060,000 at the end of the most recent reporting period. 46.11% of the stock is owned by institutional investors and hedge funds.
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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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