Alimera Sciences (NASDAQ:ALIM) Receives New Coverage from Analysts at StockNews.com

Equities researchers at StockNews.com assumed coverage on shares of Alimera Sciences (NASDAQ:ALIM – Get Rating) in a research note issued on Wednesday. The brokerage set a “hold” rating on the biopharmaceutical company’s stock.

ALIM has been the subject of several other reports. Craig Hallum reduced their price target on Alimera Sciences from $18.00 to $8.00 in a research report on Monday, April 3rd. HC Wainwright reduced their price target on Alimera Sciences from $9.00 to $5.00 in a research report on Friday, May 19th.

Alimera Sciences Stock Performance

Shares of NASDAQ ALIM opened at $2.35 on Wednesday. The stock has a 50 day moving average price of $1.90 and a 200 day moving average price of $2.55. Alimera Sciences has a 52 week low of $1.30 and a 52 week high of $7.92. The stock has a market capitalization of $17.39 million, a PE ratio of -0.96 and a beta of 1.38.

Insider Activity

In other Alimera Sciences news, Director Adam Morgan acquired 1,401,901 shares of the business’s stock in a transaction dated Wednesday, May 17th. The stock was bought at an average cost of $1.70 per share, with a total value of $2,383,231.70. Following the completion of the transaction, the director now directly owns 1,659,654 shares in the company, valued at approximately $2,821,411.80. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, major shareholder Alto Investors Lp Palo sold 200,919 shares of Alimera Sciences stock in a transaction that occurred on Friday, March 24th. The stock was sold at an average price of $1.56, for a total transaction of $313,433.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Adam Morgan purchased 1,401,901 shares of the company’s stock in a transaction that occurred on Wednesday, May 17th. The shares were purchased at an average cost of $1.70 per share, with a total value of $2,383,231.70. Following the completion of the acquisition, the director now owns 1,659,654 shares in the company, valued at approximately $2,821,411.80. The disclosure for this purchase can be found here. Insiders own 12.90% of the company’s stock.

Institutional Trading of Alimera Sciences

Hedge funds have recently added to or reduced their stakes in the company. Renaissance Technologies LLC increased its stake in shares of Alimera Sciences by 2.3% in the 2nd quarter. Renaissance Technologies LLC now owns 127,693 shares of the biopharmaceutical company’s stock valued at $698,000 after purchasing an additional 2,900 shares during the last quarter. Millennium Management LLC bought a new position in shares of Alimera Sciences in the 4th quarter valued at $32,000. Susquehanna International Group LLP bought a new position in shares of Alimera Sciences in the 4th quarter valued at $92,000. Finally, Caligan Partners LP bought a new position in shares of Alimera Sciences in the 4th quarter valued at $1,297,000. 24.58% of the stock is owned by institutional investors and hedge funds.

Alimera Sciences Company Profile

(Get Rating)

Alimera Sciences, Inc engages in the research and development of biopharmaceutical products. It operates through the following geographical segments: U.S. and International. The firm focuses on the development of ophthalmic pharmaceuticals for the treatment of diabetic macular edema, wet and dry age-related macular degeneration and retinal vein occlusion.