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

Investment analysts at StockNews.com started 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.

A number of other brokerages have also commented on ALIM. HC Wainwright decreased their price objective on Alimera Sciences from $9.00 to $5.00 in a report on Friday, May 19th. Craig Hallum decreased their price objective on Alimera Sciences from $18.00 to $8.00 in a report on Monday, April 3rd.

Alimera Sciences Stock Performance

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

Insider Activity

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

Hedge Funds Weigh In On Alimera Sciences

Institutional investors have recently bought and sold shares of the company. Millennium Management LLC purchased a new position in Alimera Sciences in the fourth quarter valued at approximately $32,000. Susquehanna International Group LLP purchased a new stake in shares of Alimera Sciences during the fourth quarter worth $92,000. Renaissance Technologies LLC lifted its position in shares of Alimera Sciences by 2.3% during the second quarter. Renaissance Technologies LLC now owns 127,693 shares of the biopharmaceutical company’s stock worth $698,000 after acquiring an additional 2,900 shares in the last quarter. Finally, Caligan Partners LP purchased a new stake in shares of Alimera Sciences during the fourth quarter worth $1,297,000. Hedge funds and other institutional investors own 24.58% of the company’s stock.

Alimera Sciences Company Profile

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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.