Zacks Investment Research upgraded shares of Alimera Sciences, Inc. (NASDAQ:ALIM) from a sell rating to a hold rating in a research note released on Friday 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. “

A number of other equities research analysts have also recently issued reports on the stock. HC Wainwright set a $5.00 price objective on shares of Alimera Sciences and gave the company a buy rating in a research note on Tuesday, July 11th. Cowen and Company reaffirmed a buy rating and issued a $3.00 price objective on shares of Alimera Sciences in a research note on Tuesday, July 11th. Finally, ValuEngine cut shares of Alimera Sciences from a hold rating to a sell rating in a research note on Thursday, July 27th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the stock. The stock has an average rating of Hold and an average target price of $3.38.

Alimera Sciences (ALIM) opened at 1.40 on Friday. The stock’s 50 day moving average is $1.44 and its 200 day moving average is $1.43. The company’s market cap is $96.67 million. Alimera Sciences has a 1-year low of $1.03 and a 1-year high of $1.72.

Alimera Sciences (NASDAQ:ALIM) last released 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. During the same period in the prior year, the firm earned ($0.17) EPS. Alimera Sciences’s quarterly revenue was up 8.3% on a year-over-year basis. Equities analysts anticipate that Alimera Sciences will post ($0.21) earnings per share for the current fiscal year.

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Several institutional investors have recently made changes to their positions in the company. PNC Financial Services Group Inc. boosted its stake 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 valued at $251,000 after purchasing an additional 35,200 shares in the last quarter. KCG Holdings Inc. boosted its stake 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 valued at $110,000 after purchasing an additional 43,977 shares in the last quarter. JW Asset Management LLC boosted its stake 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 valued at $1,343,000 after purchasing an additional 130,000 shares in the last quarter. Finally, Kennedy Capital Management Inc. purchased a new stake in shares of Alimera Sciences in the 1st quarter valued at $467,000. 37.20% 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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