Alimera Sciences (NASDAQ:ALIM) Stock Rating Upgraded by Zacks Investment Research

Zacks Investment Research upgraded shares of Alimera Sciences (NASDAQ:ALIM) from a sell rating to a hold rating in a research note published on Wednesday, Zacks.com reports.

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. “

A number of other research analysts have also recently commented on the company. HC Wainwright restated a buy rating on shares of Alimera Sciences in a research note on Friday, June 21st. ValuEngine upgraded Alimera Sciences from a hold rating to a buy rating in a research note on Thursday, August 1st. Finally, Craig Hallum started coverage on Alimera Sciences in a research note on Tuesday, May 28th. They issued a buy rating and a $3.00 price objective on the stock. 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 presently has a consensus rating of Buy and a consensus target price of $2.50.

NASDAQ:ALIM opened at $0.47 on Wednesday. The stock’s fifty day moving average is $0.71 and its two-hundred day moving average is $0.92. Alimera Sciences has a 52 week low of $0.46 and a 52 week high of $1.21.

Alimera Sciences (NASDAQ:ALIM) last released its quarterly earnings results on Monday, July 29th. The biopharmaceutical company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.03). The business had revenue of $10.86 million during the quarter, compared to the consensus estimate of $12.97 million. As a group, analysts anticipate that Alimera Sciences will post -0.16 EPS for the current fiscal year.

Several hedge funds have recently modified their holdings of ALIM. Tower Research Capital LLC TRC lifted its position in Alimera Sciences by 32,745.5% in the second quarter. Tower Research Capital LLC TRC now owns 54,852 shares of the biopharmaceutical company’s stock valued at $49,000 after purchasing an additional 54,685 shares during the period. Columbia Pacific Advisors LLC acquired a new stake in shares of Alimera Sciences during the 1st quarter valued at approximately $54,000. B. Riley Wealth Management Inc. lifted its position in shares of Alimera Sciences by 36.7% during the 1st quarter. B. Riley Wealth Management Inc. now owns 139,302 shares of the biopharmaceutical company’s stock valued at $148,000 after acquiring an additional 37,396 shares during the period. Knott David M lifted its position in shares of Alimera Sciences by 3.9% during the 1st quarter. Knott David M now owns 402,901 shares of the biopharmaceutical company’s stock valued at $427,000 after acquiring an additional 15,000 shares during the period. Finally, Royce & Associates LP lifted its position in shares of Alimera Sciences by 79.0% during the 1st quarter. Royce & Associates LP now owns 571,275 shares of the biopharmaceutical company’s stock valued at $606,000 after acquiring an additional 252,089 shares during the period. 50.35% of the stock is currently 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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