Alimera Sciences, Inc. (NASDAQ:ALIM) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Monday. The firm currently has a $1.50 price objective on the biopharmaceutical company’s stock. Zacks Investment Research‘s target price suggests a potential upside of 7.14% from the company’s current price.
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. “
Separately, Rodman & Renshaw began coverage on Alimera Sciences in a research note on Thursday, April 27th. They set a “buy” rating and a $4.00 target price for the company.
Shares of Alimera Sciences (ALIM) traded down 1.43% on Monday, reaching $1.38. The company had a trading volume of 139,423 shares. Alimera Sciences has a 52 week low of $1.01 and a 52 week high of $2.40. The firm’s market capitalization is $89.56 million. The company’s 50-day moving average price is $1.40 and its 200 day moving average price is $1.33.
Alimera Sciences (NASDAQ:ALIM) last issued its earnings results on Monday, May 8th. The biopharmaceutical company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.08) by $0.02. The firm had revenue of $6.62 million during the quarter, compared to analyst estimates of $8.80 million. The company’s quarterly revenue was up 14.1% on a year-over-year basis. During the same period last year, the business posted ($0.22) earnings per share. On average, analysts expect that Alimera Sciences will post ($0.17) EPS for the current year.
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An institutional investor recently raised its position in Alimera Sciences stock. KCG Holdings Inc. raised its position in Alimera Sciences, Inc. (NASDAQ:ALIM) by 127.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 78,604 shares of the biopharmaceutical company’s stock after buying an additional 43,977 shares during the period. KCG Holdings Inc.’s holdings in Alimera Sciences were worth $110,000 at the end of the most recent quarter. Institutional investors own 43.60% 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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