Alimera Sciences (ALIM) Upgraded to “Buy” by Zacks Investment Research

Zacks Investment Research upgraded shares of Alimera Sciences (NASDAQ:ALIM) from a hold rating to a buy rating in a report published on Friday morning. They currently have $1.25 price objective on the biopharmaceutical company’s stock.

According to Zacks, “Alimera Sciences, Inc., based in Alpharetta, Georgia, is a biopharmaceutical company that specializes in the research, development and commercialization of prescription ophthalmic pharmaceuticals. The Company is presently focused on diseases affecting the back of the eye, or retina because it believes these diseases are not well treated with current therapies and represent a significant market opportunity. Its product candidate Iluvien(R) is an intravitreal insert containing fluocinolone acetonide, a non-proprietary corticosteroid with demonstrated efficacy in the treatment of ocular disease. Iluvien is in development for the treatment of diabetic macular edema (DME). DME is a disease of the retina that affects individuals with diabetes and can lead to severe vision loss and blindness. “

ALIM has been the topic of a number of other reports. TheStreet raised Alimera Sciences from a d- rating to a c- rating in a research note on Tuesday. HC Wainwright set a $3.00 price target on Alimera Sciences and gave the stock a buy rating in a research note on Tuesday, July 31st. Finally, Cowen reaffirmed a buy rating and issued a $3.00 price target on shares of Alimera Sciences in a research note on Wednesday, September 5th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company currently has an average rating of Buy and an average target price of $2.50.

Alimera Sciences stock traded down $0.02 during trading hours on Friday, reaching $1.08. The company had a trading volume of 36,423 shares, compared to its average volume of 99,417. The stock has a market capitalization of $78.44 million, a P/E ratio of -3.72 and a beta of 1.63. Alimera Sciences has a 12-month low of $0.74 and a 12-month high of $1.38.

Alimera Sciences (NASDAQ:ALIM) last announced its quarterly earnings results on Monday, November 5th. The biopharmaceutical company reported ($0.05) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.06) by $0.01. The company had revenue of $11.14 million during the quarter, compared to analysts’ expectations of $11.12 million. As a group, sell-side analysts forecast that Alimera Sciences will post -0.26 earnings per share for the current year.

A number of institutional investors have recently made changes to their positions in the business. Stonepine Capital Management LLC increased its stake in shares of Alimera Sciences by 13.0% during the second quarter. Stonepine Capital Management LLC now owns 6,981,184 shares of the biopharmaceutical company’s stock valued at $6,830,000 after buying an additional 801,151 shares during the period. Renaissance Technologies LLC increased its stake in shares of Alimera Sciences by 20.8% during the second quarter. Renaissance Technologies LLC now owns 574,000 shares of the biopharmaceutical company’s stock valued at $562,000 after buying an additional 99,000 shares during the period. Finally, BlackRock Inc. increased its stake in shares of Alimera Sciences by 28.5% during the second quarter. BlackRock Inc. now owns 272,248 shares of the biopharmaceutical company’s stock valued at $266,000 after buying an additional 60,327 shares during the period. 51.84% of the stock is currently owned by institutional investors and hedge funds.

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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