HC Wainwright Reiterates “Buy” Rating for Alimera Sciences (ALIM)

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HC Wainwright reissued their buy rating on shares of Alimera Sciences (NASDAQ:ALIM) in a research note issued to investors on Wednesday morning. The brokerage currently has a $3.00 target price on the biopharmaceutical company’s stock.

Several other equities analysts have also weighed in on the company. Cowen reissued a buy rating and issued a $3.00 target price on shares of Alimera Sciences in a research note on Wednesday, September 5th. Zacks Investment Research raised Alimera Sciences from a hold rating to a buy rating and set a $1.00 target price on the stock in a research note on Thursday, August 2nd. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. The stock has a consensus rating of Buy and a consensus target price of $2.50.

NASDAQ:ALIM traded down $0.02 during mid-day trading on Wednesday, 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 fifty-two week low of $0.74 and a fifty-two week high of $1.38. The firm has a market capitalization of $78.44 million, a price-to-earnings ratio of -3.72 and a beta of 1.63.

Alimera Sciences (NASDAQ:ALIM) last released its 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 company had revenue of $11.14 million during the quarter, compared to analyst estimates of $11.12 million. As a group, sell-side analysts expect that Alimera Sciences will post -0.26 EPS for the current year.

A number of large investors have recently added to or reduced their stakes in ALIM. BlackRock Inc. raised its position in shares of Alimera Sciences by 28.5% during the second 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 position in shares of Alimera Sciences by 20.8% during the second 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 position in shares of Alimera Sciences by 13.0% during the second 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 hedge funds and other institutional investors.

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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