Alimera Sciences (NASDAQ:ALIM) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Wednesday, 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 analysts have also recently commented on ALIM. HC Wainwright reiterated a “buy” rating on shares of Alimera Sciences in a research report on Friday, June 21st. ValuEngine upgraded Alimera Sciences from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st. Finally, Craig Hallum assumed coverage on Alimera Sciences in a research report on Tuesday, May 28th. They set a “buy” rating and a $3.00 price target for the company. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $2.50.

Shares of ALIM traded down $0.02 during trading hours on Wednesday, hitting $0.47. 4,563 shares of the stock were exchanged, compared to its average volume of 327,835. Alimera Sciences has a 12-month low of $0.46 and a 12-month high of $1.21. The stock’s 50-day moving average price is $0.74 and its two-hundred day moving average price is $0.93.

Alimera Sciences (NASDAQ:ALIM) last issued its quarterly earnings results on Monday, July 29th. The biopharmaceutical company reported ($0.07) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.04) by ($0.03). The company had revenue of $10.86 million during the quarter, compared to analysts’ expectations of $12.97 million. On average, analysts predict that Alimera Sciences will post -0.16 earnings per share for the current year.

Large investors have recently modified their holdings of the business. Tower Research Capital LLC TRC grew 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 valued at $49,000 after buying an additional 54,685 shares in the last quarter. Columbia Pacific Advisors LLC purchased a new stake in Alimera Sciences in the 1st quarter valued at $54,000. B. Riley Wealth Management Inc. grew 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 valued at $148,000 after buying an additional 37,396 shares in the last quarter. Knott David M grew 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 valued at $427,000 after buying an additional 15,000 shares in the last quarter. Finally, Royce & Associates LP grew 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 valued at $606,000 after buying an additional 252,089 shares in the last quarter. Institutional investors own 50.35% 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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