Alimera Sciences, Inc. (NASDAQ:ALIM) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Thursday.

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 research analysts have also commented on the stock. Rodman & Renshaw initiated coverage on shares of Alimera Sciences in a research note on Thursday, April 27th. They set a “buy” rating and a $4.00 price target on the stock. Cowen and Company restated a “buy” rating and issued a $3.00 price objective on shares of Alimera Sciences in a research note on Tuesday, July 11th. HC Wainwright set a $5.00 price target on shares of Alimera Sciences and gave the stock a “buy” rating in a research note on Tuesday, July 11th. Finally, ValuEngine lowered shares of Alimera Sciences from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Two research analysts have rated the stock with a sell rating and three have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $3.38.

Shares of Alimera Sciences (NASDAQ ALIM) traded down 2.08% on Thursday, hitting $1.41. The company’s stock had a trading volume of 228,878 shares. The stock has a 50-day moving average price of $1.46 and a 200 day moving average price of $1.41. The firm’s market cap is $97.36 million. Alimera Sciences has a one year low of $1.03 and a one year high of $1.72.

Alimera Sciences (NASDAQ:ALIM) last issued its quarterly earnings results on Wednesday, August 2nd. The biopharmaceutical company reported ($0.04) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.05) by $0.01. The business had revenue of $10.40 million during the quarter, compared to analysts’ expectations of $10.20 million. During the same period in the prior year, the business earned ($0.17) EPS. The business’s quarterly revenue was up 8.3% on a year-over-year basis. Equities research analysts predict that Alimera Sciences will post ($0.21) EPS for the current year.

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Several large investors have recently added to or reduced their stakes in the company. Alyeska Investment Group L.P. increased its position in shares of Alimera Sciences by 0.8% in the fourth quarter. Alyeska Investment Group L.P. now owns 1,013,892 shares of the biopharmaceutical company’s stock valued at $1,095,000 after buying an additional 8,077 shares during the period. PNC Financial Services Group Inc. increased its position in 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 worth $251,000 after buying an additional 35,200 shares during the period. KCG Holdings Inc. increased its position in Alimera Sciences by 127.0% in the first quarter. KCG Holdings Inc. now owns 78,604 shares of the biopharmaceutical company’s stock worth $110,000 after buying an additional 43,977 shares during the period. State Street Corp increased its position in Alimera Sciences by 15.1% in the first quarter. State Street Corp now owns 360,176 shares of the biopharmaceutical company’s stock worth $630,000 after buying an additional 47,220 shares during the period. Finally, JW Asset Management LLC increased its position in Alimera Sciences by 15.6% in the second quarter. JW Asset Management LLC now owns 966,000 shares of the biopharmaceutical company’s stock worth $1,343,000 after buying an additional 130,000 shares during the period. 43.77% of the stock is owned by institutional investors.

About Alimera Sciences

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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