Short Interest in Alimera Sciences Inc (NASDAQ:ALIM) Increases By 352.7%

Alimera Sciences Inc (NASDAQ:ALIM) was the recipient of a large growth in short interest in the month of October. As of October 15th, there was short interest totalling 1,420,000 shares, a growth of 352.7% from the September 30th total of 313,700 shares. Currently, 2.4% of the shares of the company are sold short. Based on an average trading volume of 388,000 shares, the days-to-cover ratio is currently 3.7 days.

Several research analysts recently commented on ALIM shares. B. Riley set a $2.00 target price on shares of Alimera Sciences and gave the stock a “buy” rating in a report on Monday, September 30th. ValuEngine upgraded shares of Alimera Sciences from a “hold” rating to a “buy” rating in a report on Thursday, August 1st. HC Wainwright dropped their target price on shares of Alimera Sciences from $1.50 to $1.00 and set a “buy” rating on the stock in a report on Thursday, October 31st. Finally, Zacks Investment Research upgraded shares of Alimera Sciences from a “sell” rating to a “hold” rating in a report on Friday, November 8th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $1.75.

An institutional investor recently raised its position in Alimera Sciences stock. Tower Research Capital LLC TRC lifted its stake in shares of Alimera Sciences Inc (NASDAQ:ALIM) by 32,745.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor 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 approximately 0.08% of Alimera Sciences worth $49,000 at the end of the most recent reporting period. 50.22% of the stock is owned by hedge funds and other institutional investors.

NASDAQ ALIM traded up $0.03 on Wednesday, reaching $0.26. The company’s stock had a trading volume of 4,338,983 shares, compared to its average volume of 260,741. The business has a 50-day moving average price of $0.39 and a 200 day moving average price of $0.66. Alimera Sciences has a 52 week low of $0.20 and a 52 week high of $1.21.

Shares of Alimera Sciences are scheduled to reverse split on the morning of Friday, November 15th. The 1-15 reverse split was announced on Thursday, November 7th. The number of shares owned by shareholders will be adjusted after the market closes on Thursday, November 14th.

Alimera Sciences (NASDAQ:ALIM) last posted its earnings results on Tuesday, October 29th. The biopharmaceutical company reported ($0.04) earnings per share for the quarter, meeting the Zacks’ consensus estimate of ($0.04). The business had revenue of $12.85 million during the quarter, compared to the consensus estimate of $12.75 million. Research analysts anticipate that Alimera Sciences will post -0.18 earnings per share for the current year.

Alimera Sciences Company Profile

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.

Further Reading: Basic Economics

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