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 report released on Wednesday 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. “

Several other equities analysts have also recently issued reports on ALIM. ValuEngine raised Alimera Sciences from a hold rating to a buy rating in a report on Thursday, August 1st. Craig Hallum assumed coverage on Alimera Sciences in a report on Tuesday, May 28th. They issued a buy rating and a $3.00 price objective for the company. Finally, HC Wainwright reaffirmed a buy rating on shares of Alimera Sciences in a report on Friday, June 21st. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. The stock currently has an average rating of Buy and a consensus price target of $2.50.



Shares of ALIM stock opened at $0.47 on Wednesday. The business has a 50-day simple moving average of $0.71 and a 200-day simple moving average of $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 issued its quarterly earnings data on Monday, July 29th. The biopharmaceutical company reported ($0.07) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.04) by ($0.03). The firm had revenue of $10.86 million during the quarter, compared to analyst estimates of $12.97 million. As a group, equities research analysts expect that Alimera Sciences will post -0.16 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC raised its holdings in Alimera Sciences by 32,745.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 54,852 shares of the biopharmaceutical company’s stock worth $49,000 after purchasing an additional 54,685 shares during the period. Renaissance Technologies LLC raised its holdings in Alimera Sciences by 13.1% in the 2nd quarter. Renaissance Technologies LLC now owns 1,128,404 shares of the biopharmaceutical company’s stock worth $1,004,000 after purchasing an additional 130,414 shares during the period. B. Riley Wealth Management Inc. raised its holdings in Alimera Sciences by 36.7% in the 1st quarter. B. Riley Wealth Management Inc. now owns 139,302 shares of the biopharmaceutical company’s stock worth $148,000 after purchasing an additional 37,396 shares during the period. Knott David M raised its holdings in Alimera Sciences by 3.9% in the 1st quarter. Knott David M now owns 402,901 shares of the biopharmaceutical company’s stock worth $427,000 after purchasing an additional 15,000 shares during the period. Finally, Royce & Associates LP raised its holdings in Alimera Sciences by 79.0% in the 1st quarter. Royce & Associates LP now owns 571,275 shares of the biopharmaceutical company’s stock worth $606,000 after purchasing an additional 252,089 shares during the period. 50.35% 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.

Recommended Story: What are the risks of holding treasury bonds?

Get a free copy of the Zacks research report on Alimera Sciences (ALIM)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Alimera Sciences Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alimera Sciences and related companies with MarketBeat.com's FREE daily email newsletter.