Zacks Investment Research cut shares of Alimera Sciences, Inc. (NASDAQ:ALIM) from a hold rating to a sell rating in a report released on Wednesday morning.

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 subject of a number of other reports. Rodman & Renshaw assumed coverage on Alimera Sciences in a report on Thursday, April 27th. They set a buy rating and a $4.00 price target for the company. HC Wainwright set a $5.00 price target on Alimera Sciences and gave the company a buy rating in a research report on Tuesday, July 11th. Cowen and Company restated a buy rating and issued a $3.00 price target on shares of Alimera Sciences in a research report on Tuesday, July 11th. Finally, ValuEngine cut Alimera Sciences from a hold rating to a sell rating in a research report on Thursday, July 27th. Two research analysts have rated the stock with a sell rating and three have issued a buy rating to the stock. Alimera Sciences currently has an average rating of Hold and an average price target of $3.38.

Shares of Alimera Sciences (NASDAQ:ALIM) opened at 1.40 on Wednesday. The stock’s 50 day moving average price is $1.46 and its 200-day moving average price is $1.42. Alimera Sciences has a 1-year low of $1.03 and a 1-year high of $1.72. The stock’s market cap is $96.67 million.

Alimera Sciences (NASDAQ:ALIM) last released its earnings results on Wednesday, August 2nd. The biopharmaceutical company reported ($0.04) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.05) by $0.01. The company had revenue of $10.40 million during the quarter, compared to analysts’ expectations of $10.20 million. The company’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same quarter last year, the business posted ($0.17) earnings per share. On average, equities research analysts forecast that Alimera Sciences will post ($0.21) earnings per share for the current year.

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A number of large investors have recently bought and sold shares of ALIM. Kennedy Capital Management Inc. bought a new stake in Alimera Sciences during the first quarter worth about $467,000. JW Asset Management LLC increased its position in shares of Alimera Sciences by 15.6% in the second quarter. JW Asset Management LLC now owns 966,000 shares of the biopharmaceutical company’s stock valued at $1,343,000 after buying an additional 130,000 shares during the period. KCG Holdings Inc. increased its position in shares of Alimera Sciences by 127.0% in the first quarter. KCG Holdings Inc. now owns 78,604 shares of the biopharmaceutical company’s stock valued at $110,000 after buying an additional 43,977 shares during the period. Finally, PNC Financial Services Group Inc. increased its position in shares of Alimera Sciences by 24.3% in the second quarter. PNC Financial Services Group Inc. now owns 180,300 shares of the biopharmaceutical company’s stock valued at $251,000 after buying an additional 35,200 shares during the period. 43.77% of the stock is currently owned by hedge funds and other institutional investors.

Alimera Sciences Company Profile

Alimera Sciences, Inc (Alimera) is a pharmaceutical company. The Company is engaged in the research, development and commercialization of prescription ophthalmic pharmaceuticals. The Company operates through two segments: U.S. and International. The Company focuses on diseases affecting the back of the eye or retina.

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