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

Alimera Sciences Inc (NASDAQ:ALIM) shares are going to reverse split before the market opens on 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 closing bell on Thursday, November 14th.

Shares of ALIM traded up $0.06 on Wednesday, reaching $0.29. The stock had a trading volume of 52,124 shares, compared to its average volume of 242,119. The firm has a 50-day moving average of $0.39 and a 200 day moving average of $0.66. Alimera Sciences has a twelve month low of $0.20 and a twelve month high of $1.21.

Alimera Sciences (NASDAQ:ALIM) last posted its quarterly earnings data on Tuesday, October 29th. The biopharmaceutical company reported ($0.04) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.04). The business had revenue of $12.85 million for the quarter, compared to analyst estimates of $12.75 million. Research analysts expect that Alimera Sciences will post -0.18 EPS for the current fiscal year.

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

A hedge fund recently raised its stake in Alimera Sciences stock. Renaissance Technologies LLC increased its position in Alimera Sciences Inc (NASDAQ:ALIM) by 13.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,128,404 shares of the biopharmaceutical company’s stock after buying an additional 130,414 shares during the quarter. Renaissance Technologies LLC owned about 1.59% of Alimera Sciences worth $1,004,000 as of its most recent filing with the Securities and Exchange Commission. Institutional investors own 50.22% of the company’s stock.

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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