Alimera Sciences (NASDAQ:ALIM) Shares to Reverse Split on Friday, November 15th

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Alimera Sciences Inc (NASDAQ:ALIM)’s stock is going 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.

Shares of ALIM traded up $0.05 during mid-day trading on Wednesday, reaching $0.28. The stock had a trading volume of 17,611 shares, compared to its average volume of 242,119. Alimera Sciences has a 52-week low of $0.20 and a 52-week high of $1.21. The business’s fifty day moving average is $0.39 and its 200 day moving average is $0.66.

Alimera Sciences (NASDAQ:ALIM) last announced its quarterly earnings data on Tuesday, October 29th. The biopharmaceutical company reported ($0.04) earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of ($0.04). The firm had revenue of $12.85 million during the quarter, compared to analysts’ expectations of $12.75 million. Equities research analysts predict that Alimera Sciences will post -0.18 earnings per share for the current fiscal year.

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

An institutional investor recently raised its position in Alimera Sciences stock. Tower Research Capital LLC TRC raised its stake in 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 (SEC). The fund owned 54,852 shares of the biopharmaceutical company’s stock after buying an additional 54,685 shares during the quarter. Tower Research Capital LLC TRC owned about 0.08% of Alimera Sciences worth $49,000 at the end of the most recent quarter. 50.22% of the stock is owned by institutional investors.

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.

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