Alimera Sciences (NASDAQ:ALIM)‘s stock had its “buy” rating reissued by stock analysts at Cowen in a note issued to investors on Wednesday. They presently have a $3.00 target price on the biopharmaceutical company’s stock. Cowen’s target price points to a potential upside of 185.71% from the company’s previous close.
Other research analysts also recently issued research reports about the company. HC Wainwright set a $3.00 price target on Alimera Sciences and gave the company a “buy” rating in a report on Tuesday, May 8th. Zacks Investment Research upgraded Alimera Sciences from a “hold” rating to a “buy” rating and set a $1.00 price target on the stock in a report on Thursday, August 2nd. ValuEngine upgraded Alimera Sciences from a “sell” rating to a “hold” rating in a report on Friday, June 1st. Finally, B. Riley began coverage on Alimera Sciences in a report on Friday, June 29th. They set a “buy” rating and a $2.75 price target on the stock. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $2.44.
Shares of ALIM stock traded up $0.02 on Wednesday, reaching $1.05. 73,962 shares of the company’s stock traded hands, compared to its average volume of 157,730. Alimera Sciences has a 12-month low of $0.74 and a 12-month high of $1.46. The company has a current ratio of 3.85, a quick ratio of 3.61 and a debt-to-equity ratio of -0.60. The company has a market capitalization of $72.84 million, a price-to-earnings ratio of -3.62 and a beta of 1.52.
Alimera Sciences (NASDAQ:ALIM) last issued its quarterly earnings results on Monday, July 30th. The biopharmaceutical company reported ($0.06) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.06). The business had revenue of $10.92 million for the quarter, compared to analysts’ expectations of $10.78 million. sell-side analysts predict that Alimera Sciences will post -0.27 EPS for the current year.
A number of hedge funds and other institutional investors have recently modified their holdings of ALIM. BlackRock Inc. grew its stake in Alimera Sciences by 28.5% in the second quarter. BlackRock Inc. now owns 272,248 shares of the biopharmaceutical company’s stock valued at $266,000 after purchasing an additional 60,327 shares in the last quarter. Renaissance Technologies LLC grew its stake in Alimera Sciences by 20.8% in the second quarter. Renaissance Technologies LLC now owns 574,000 shares of the biopharmaceutical company’s stock valued at $562,000 after purchasing an additional 99,000 shares in the last quarter. Finally, Stonepine Capital Management LLC grew its stake in Alimera Sciences by 13.0% in the second quarter. Stonepine Capital Management LLC now owns 6,981,184 shares of the biopharmaceutical company’s stock valued at $6,830,000 after purchasing an additional 801,151 shares in the last quarter. Hedge funds and other institutional investors own 51.85% of the company’s stock.
About Alimera Sciences
Alimera Sciences, Inc, a pharmaceutical company, engages in the research, development, and commercialization of prescription ophthalmic pharmaceuticals in the United States and internationally. It focuses on diseases affecting the back of the eye or retina. The company offers ILUVIEN, an intravitreal implant for the treatment of diabetic macular edema (DME), which is a disease of the retina that affects individuals with diabetes and could lead to severe vision loss and blindness.
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