Zacks Investment Research cut shares of Alimera Sciences Inc. (NASDAQ:ALIM) from a hold rating to a sell rating in a report issued on Monday morning.

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, Cowen and Company reiterated a market perform rating and set a $2.00 price target on shares of Alimera Sciences in a research note on Friday, August 5th.

Alimera Sciences (NASDAQ:ALIM) opened at 1.17 on Monday. The company’s market capitalization is $75.89 million. The stock’s 50 day moving average price is $1.30 and its 200-day moving average price is $1.49. Alimera Sciences has a one year low of $1.01 and a one year high of $5.15.

Alimera Sciences (NASDAQ:ALIM) last announced its quarterly earnings results on Wednesday, November 2nd. The biopharmaceutical company reported ($0.16) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.11) by $0.05. The firm earned $8.30 million during the quarter, compared to analyst estimates of $10.53 million. During the same quarter in the previous year, the company earned ($0.21) EPS. The company’s revenue for the quarter was up 20.3% on a year-over-year basis. Equities analysts forecast that Alimera Sciences will post ($0.54) EPS for the current year.

In related news, insider Richard S. Eiswirth, Jr. sold 51,471 shares of the company’s stock in a transaction dated Thursday, September 15th. The stock was sold at an average price of $1.51, for a total value of $77,721.21. Following the completion of the transaction, the insider now owns 86,445 shares of the company’s stock, valued at approximately $130,531.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 14.00% of the stock is owned by corporate insiders.

Institutional investors have recently added to or reduced their stakes in the company. Great Point Partners LLC acquired a new position in Alimera Sciences during the third quarter worth $3,931,000. Sphera Funds Management LTD. acquired a new position in Alimera Sciences during the third quarter worth $299,000. Spark Investment Management LLC acquired a new position in Alimera Sciences during the third quarter worth $262,000. Northern Trust Corp boosted its position in Alimera Sciences by 108.9% in the third quarter. Northern Trust Corp now owns 105,320 shares of the biopharmaceutical company’s stock worth $157,000 after buying an additional 54,906 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its position in Alimera Sciences by 107.3% in the third quarter. PNC Financial Services Group Inc. now owns 95,100 shares of the biopharmaceutical company’s stock worth $142,000 after buying an additional 49,215 shares during the last quarter. 31.80% of the stock is owned by institutional investors.

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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