Alliance Global Partners Downgrades Alimera Sciences (NASDAQ:ALIM) to Neutral

Alliance Global Partners cut shares of Alimera Sciences (NASDAQ:ALIMGet Rating) from a buy rating to a neutral rating in a research note released on Monday morning, The Fly reports. The brokerage currently has $4.50 price objective on the biopharmaceutical company’s stock, down from their prior price objective of $11.00.

A number of other brokerages also recently issued reports on ALIM. began coverage on Alimera Sciences in a research report on Monday. They set a hold rating on the stock. HC Wainwright upped their price target on Alimera Sciences from $8.00 to $9.00 and gave the stock a buy rating in a research report on Thursday, July 28th.

Alimera Sciences Trading Down 0.4 %

Shares of ALIM stock opened at $4.19 on Monday. The business’s fifty day simple moving average is $5.21 and its 200-day simple moving average is $5.64. The company has a market cap of $29.34 million, a PE ratio of -1.59 and a beta of 1.38. Alimera Sciences has a 12-month low of $3.94 and a 12-month high of $7.92.

Institutional Investors Weigh In On Alimera Sciences

A hedge fund recently raised its stake in Alimera Sciences stock. Renaissance Technologies LLC increased its stake in shares of Alimera Sciences, Inc. (NASDAQ:ALIMGet Rating) by 2.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 127,693 shares of the biopharmaceutical company’s stock after buying an additional 2,900 shares during the quarter. Renaissance Technologies LLC owned about 1.83% of Alimera Sciences worth $698,000 as of its most recent SEC filing. 34.53% of the stock is currently owned by institutional investors and hedge funds.

About Alimera Sciences

(Get Rating)

Alimera Sciences, Inc, a pharmaceutical company, engages in the development and commercialization of ophthalmic pharmaceuticals in the United States and internationally. It 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 lead to severe vision loss and blindness; and to prevent relapse in recurrent non-infectious uveitis affecting the posterior segment of the eye.

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