Alimera Sciences Inc (NASDAQ:ALIM) was the recipient of a large increase in short interest during the month of November. As of November 29th, there was short interest totalling 84,900 shares, an increase of 30.0% from the November 14th total of 65,300 shares. Currently, 2.1% of the shares of the company are short sold. Based on an average daily volume of 61,500 shares, the days-to-cover ratio is presently 1.4 days.
In related news, Director John Snisarenko purchased 10,000 shares of the company’s stock in a transaction on Thursday, November 21st. The shares were bought at an average cost of $4.95 per share, for a total transaction of $49,500.00. Following the transaction, the director now owns 10,000 shares of the company’s stock, valued at $49,500. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Richard S. Eiswirth, Jr. purchased 100,000 shares of the company’s stock in a transaction on Thursday, November 14th. The shares were bought at an average price of $5.21 per share, for a total transaction of $521,000.00. Over the last quarter, insiders purchased 114,000 shares of company stock worth $595,270. 14.60% of the stock is currently owned by insiders.
A hedge fund recently raised its stake in Alimera Sciences stock. Tower Research Capital LLC TRC lifted its holdings in Alimera Sciences Inc (NASDAQ:ALIM) by 32,745.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 54,852 shares of the biopharmaceutical company’s stock after purchasing an additional 54,685 shares during the period. Tower Research Capital LLC TRC owned about 0.08% of Alimera Sciences worth $49,000 at the end of the most recent reporting period.
ALIM stock opened at $8.41 on Friday. Alimera Sciences has a 52 week low of $2.96 and a 52 week high of $18.15. The firm’s 50-day moving average is $3.60 and its two-hundred day moving average is $1.39.
Alimera Sciences (NASDAQ:ALIM) last released its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported ($0.60) EPS for the quarter, hitting analysts’ consensus estimates of ($0.60). The company had revenue of $12.85 million for the quarter, compared to the consensus estimate of $12.75 million. On average, research analysts expect that Alimera Sciences will post -2.58 EPS for the current year.
A number of analysts have commented on ALIM shares. Zacks Investment Research upgraded shares of Alimera Sciences from a “sell” rating to a “hold” rating in a research report on Thursday. ValuEngine upgraded shares of Alimera Sciences from a “hold” rating to a “buy” rating in a research report on Tuesday, December 3rd. B. Riley set a $30.00 price target on shares of Alimera Sciences and gave the stock a “buy” rating in a research report on Monday, September 30th. Finally, HC Wainwright restated a “buy” rating and set a $15.00 price target on shares of Alimera Sciences in a research report on Wednesday, December 4th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $26.25.
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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