Alimera Sciences (NASDAQ:ALIM) Upgraded at Zacks Investment Research

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Zacks Investment Research upgraded shares of Alimera Sciences (NASDAQ:ALIM) from a sell rating to a hold rating in a report released on Monday morning, 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 equities research analysts also recently issued reports on ALIM. B. Riley set a $2.00 target price on shares of Alimera Sciences and gave the stock a buy rating in a research report on Monday, September 30th. ValuEngine upgraded shares of Alimera Sciences from a hold rating to a buy rating in a research report on Thursday, August 1st. Finally, HC Wainwright set a $2.00 target price on shares of Alimera Sciences and gave the stock a buy rating in a research report on Wednesday, September 4th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. The stock presently has an average rating of Buy and a consensus target price of $2.00.

Alimera Sciences stock opened at $0.36 on Monday. The company has a 50 day moving average price of $0.44 and a 200 day moving average price of $0.75. Alimera Sciences has a 52 week low of $0.32 and a 52 week high of $1.21.

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

Several institutional investors have recently added to or reduced their stakes in ALIM. Renaissance Technologies LLC raised its holdings in shares of Alimera Sciences by 13.1% during the 2nd quarter. Renaissance Technologies LLC now owns 1,128,404 shares of the biopharmaceutical company’s stock valued at $1,004,000 after purchasing an additional 130,414 shares in the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of Alimera Sciences by 32,745.5% during the 2nd 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 in the last quarter. Finally, B. Riley Wealth Management Inc. raised its holdings 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 purchasing an additional 37,396 shares in the last quarter. Institutional investors and hedge funds own 50.39% of the company’s stock.

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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