Alimera Sciences (NASDAQ:ALIM) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Friday. The brokerage presently has a $1.25 target price on the biopharmaceutical company’s stock. Zacks Investment Research‘s target price indicates a potential upside of 15.74% from the stock’s previous close.

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 weighed in on ALIM. TheStreet raised Alimera Sciences from a “d-” rating to a “c-” rating in a report on Tuesday, November 6th. HC Wainwright reissued a “buy” rating and set a $3.00 price target on shares of Alimera Sciences in a report on Wednesday. Finally, Cowen reissued a “buy” rating and set a $3.00 price target on shares of Alimera Sciences in a report on Wednesday, September 5th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $2.50.

NASDAQ ALIM opened at $1.08 on Friday. Alimera Sciences has a 1-year low of $0.74 and a 1-year high of $1.38.

Alimera Sciences (NASDAQ:ALIM) last released its quarterly earnings results on Monday, November 5th. The biopharmaceutical company reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.01. The firm had revenue of $11.14 million for the quarter, compared to the consensus estimate of $11.12 million. Sell-side analysts anticipate that Alimera Sciences will post 0.07 earnings per share for the current year.

A number of institutional investors have recently made changes to their positions in the stock. BlackRock Inc. raised its holdings in Alimera Sciences by 28.5% in the 2nd quarter. BlackRock Inc. now owns 272,248 shares of the biopharmaceutical company’s stock worth $266,000 after purchasing an additional 60,327 shares during the period. Renaissance Technologies LLC raised its holdings in Alimera Sciences by 20.8% in the 2nd quarter. Renaissance Technologies LLC now owns 574,000 shares of the biopharmaceutical company’s stock worth $562,000 after purchasing an additional 99,000 shares during the period. Finally, Stonepine Capital Management LLC raised its holdings in Alimera Sciences by 13.0% in the 2nd quarter. Stonepine Capital Management LLC now owns 6,981,184 shares of the biopharmaceutical company’s stock worth $6,830,000 after purchasing an additional 801,151 shares during the period. 51.84% 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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