Alimera Sciences (ALIM) Upgraded to “Buy” by Zacks Investment Research

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Zacks Investment Research upgraded shares of Alimera Sciences (NASDAQ:ALIM) from a hold rating to a buy rating in a research report sent to investors on Friday. Zacks Investment Research currently has $1.25 price objective on the biopharmaceutical company’s stock.

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. “

A number of other analysts also recently issued reports on ALIM. HC Wainwright set a $3.00 price target on Alimera Sciences and gave the company a buy rating in a research report on Tuesday, July 31st. Cowen reiterated a buy rating and set a $3.00 price target on shares of Alimera Sciences in a research report on Wednesday, September 5th. Finally, TheStreet upgraded Alimera Sciences from a d- rating to a c- rating in a research report on Tuesday. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The stock currently has an average rating of Buy and an average target price of $2.50.

NASDAQ ALIM traded down $0.02 during trading hours on Friday, hitting $1.08. The company had a trading volume of 36,423 shares, compared to its average volume of 99,417. Alimera Sciences has a 52 week low of $0.74 and a 52 week high of $1.38. The company has a market cap of $78.44 million, a P/E ratio of -3.72 and a beta of 1.63.

Alimera Sciences (NASDAQ:ALIM) last issued its earnings results on Monday, November 5th. The biopharmaceutical company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.06) by $0.01. The company had revenue of $11.14 million during the quarter, compared to the consensus estimate of $11.12 million. On average, equities research analysts predict that Alimera Sciences will post -0.26 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently modified their holdings of ALIM. BlackRock Inc. boosted its position in shares of Alimera Sciences by 28.5% during the 2nd quarter. BlackRock Inc. now owns 272,248 shares of the biopharmaceutical company’s stock valued at $266,000 after acquiring an additional 60,327 shares during the last quarter. Renaissance Technologies LLC boosted its position in shares of Alimera Sciences by 20.8% during the 2nd quarter. Renaissance Technologies LLC now owns 574,000 shares of the biopharmaceutical company’s stock valued at $562,000 after acquiring an additional 99,000 shares during the last quarter. Finally, Stonepine Capital Management LLC boosted its position in shares of Alimera Sciences by 13.0% during the 2nd quarter. Stonepine Capital Management LLC now owns 6,981,184 shares of the biopharmaceutical company’s stock valued at $6,830,000 after acquiring an additional 801,151 shares during the last quarter. Hedge funds and other institutional investors own 51.84% of the company’s stock.

About Alimera Sciences

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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