Alimera Sciences, Inc. (ALIM) Raised to Hold at Zacks Investment Research
Alimera Sciences, Inc. (NASDAQ:ALIM) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Friday.
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. “
Other equities analysts have also recently issued reports about the company. HC Wainwright reaffirmed a “buy” rating and issued a $5.00 price target on shares of Alimera Sciences in a research note on Wednesday, August 30th. Cowen and Company set a $3.00 price target on Alimera Sciences and gave the stock a “buy” rating in a research note on Thursday, August 3rd. Finally, ValuEngine raised Alimera Sciences from a “sell” rating to a “hold” rating in a research note on Thursday, July 13th. One analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $3.38.
Shares of Alimera Sciences (NASDAQ ALIM) traded down 0.71% during mid-day trading on Friday, reaching $1.39. The company had a trading volume of 85,883 shares. Alimera Sciences has a 12-month low of $1.03 and a 12-month high of $1.72. The stock has a 50 day moving average price of $1.45 and a 200 day moving average price of $1.43. The firm’s market capitalization is $95.98 million.
Alimera Sciences (NASDAQ:ALIM) last announced its quarterly earnings results on Wednesday, August 2nd. The biopharmaceutical company reported ($0.04) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.05) by $0.01. The company had revenue of $10.40 million during the quarter, compared to analysts’ expectations of $10.20 million. Alimera Sciences’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same period last year, the firm earned ($0.17) earnings per share. On average, equities analysts forecast that Alimera Sciences will post ($0.21) earnings per share for the current year.
Several hedge funds have recently modified their holdings of the company. PNC Financial Services Group Inc. grew its position in shares of Alimera Sciences by 24.3% in the 2nd 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 last quarter. JW Asset Management LLC grew its position in shares of Alimera Sciences by 15.6% in the 2nd 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 last quarter. KCG Holdings Inc. grew its position in shares of Alimera Sciences by 127.0% in the 1st 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 last quarter. Finally, Kennedy Capital Management Inc. bought a new stake in shares of Alimera Sciences in the 1st quarter worth approximately $467,000. Hedge funds and other institutional investors own 37.20% of the company’s stock.
Alimera Sciences Company Profile
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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