Cowen and Company Reaffirms “Buy” Rating for Alimera Sciences, Inc. (NASDAQ:ALIM)
Alimera Sciences, Inc. (NASDAQ:ALIM)‘s stock had its “buy” rating restated by investment analysts at Cowen and Company in a report issued on Tuesday. They presently have a $3.00 target price on the biopharmaceutical company’s stock. Cowen and Company’s target price indicates a potential upside of 117.39% from the company’s current price.
The analysts wrote, “Alimera has amended its agreement with pSivida to expand Iluvien’s indication in.””
Other equities analysts also recently issued reports about the stock. Rodman & Renshaw started coverage on shares of Alimera Sciences in a report on Thursday, April 27th. They issued a “buy” rating and a $4.00 price objective on the stock. HC Wainwright set a $5.00 price target on shares of Alimera Sciences and gave the company a “buy” rating in a research note on Tuesday. Finally, Zacks Investment Research upgraded shares of Alimera Sciences from a “hold” rating to a “buy” rating and set a $1.50 price target on the stock in a research note on Monday.
Alimera Sciences (NASDAQ:ALIM) traded up 3.62% on Tuesday, reaching $1.43. 211,193 shares of the company were exchanged. Alimera Sciences has a 12-month low of $1.01 and a 12-month high of $2.40. The stock has a 50 day moving average of $1.40 and a 200 day moving average of $1.33. The firm’s market capitalization is $92.81 million.
Alimera Sciences (NASDAQ:ALIM) last released its quarterly earnings data on Monday, May 8th. The biopharmaceutical company reported ($0.10) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.08) by $0.02. The business had revenue of $6.62 million for the quarter, compared to analysts’ expectations of $8.80 million. During the same quarter in the prior year, the company posted ($0.22) EPS. Alimera Sciences’s revenue was up 14.1% on a year-over-year basis. Equities analysts anticipate that Alimera Sciences will post ($0.17) EPS for the current year.
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A number of large investors have recently bought and sold shares of the company. State Street Corp boosted its stake 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 in the last quarter. PNC Financial Services Group Inc. boosted 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 period. Spark Investment Management LLC bought a new position in Alimera Sciences during the third quarter worth approximately $262,000. Sphera Funds Management LTD. bought a new position in Alimera Sciences during the third quarter worth approximately $299,000. Finally, Great Point Partners LLC bought a new position in Alimera Sciences during the third quarter worth approximately $3,931,000. 43.60% of the stock is owned by institutional investors and hedge funds.
Alimera Sciences Company Profile
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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