Alimera Sciences (NASDAQ:ALIM) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday, Zacks.com reports.

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. “

ALIM has been the subject of several other research reports. Craig Hallum began coverage on Alimera Sciences in a report on Tuesday, May 28th. They issued a “buy” rating and a $3.00 price target for the company. ValuEngine upgraded shares of Alimera Sciences from a “hold” rating to a “buy” rating in a report on Thursday, August 1st. Finally, HC Wainwright set a $2.00 price objective on shares of Alimera Sciences and gave the company a “buy” rating in a research report on Wednesday, September 4th. One investment analyst has rated the stock with a hold rating and three have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $2.00.

Shares of ALIM traded up $0.02 during midday trading on Wednesday, hitting $0.35. 34,947 shares of the company’s stock traded hands, compared to its average volume of 118,620. Alimera Sciences has a 1 year low of $0.32 and a 1 year high of $1.21. The firm’s fifty day moving average is $0.54 and its 200-day moving average is $0.87.

Alimera Sciences (NASDAQ:ALIM) last announced its earnings results on Monday, July 29th. The biopharmaceutical company reported ($0.07) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.04) by ($0.03). The company had revenue of $10.86 million during the quarter, compared to analysts’ expectations of $12.97 million. As a group, research analysts forecast that Alimera Sciences will post -0.16 EPS for the current year.

Several large investors have recently bought and sold shares of ALIM. Columbia Pacific Advisors LLC purchased a new stake in Alimera Sciences during the 1st quarter valued at about $54,000. Tower Research Capital LLC TRC boosted its position in Alimera Sciences by 32,745.5% in the second quarter. Tower Research Capital LLC TRC now owns 54,852 shares of the biopharmaceutical company’s stock valued at $49,000 after buying an additional 54,685 shares during the last quarter. B. Riley Wealth Management Inc. increased its holdings in Alimera Sciences by 36.7% in the 1st quarter. B. Riley Wealth Management Inc. now owns 139,302 shares of the biopharmaceutical company’s stock worth $148,000 after buying an additional 37,396 shares during the period. Knott David M increased its holdings in Alimera Sciences by 3.9% in the 1st quarter. Knott David M now owns 402,901 shares of the biopharmaceutical company’s stock worth $427,000 after buying an additional 15,000 shares during the period. Finally, Royce & Associates LP increased its holdings in Alimera Sciences by 79.0% in the 1st quarter. Royce & Associates LP now owns 571,275 shares of the biopharmaceutical company’s stock worth $606,000 after buying an additional 252,089 shares during the period. Institutional investors and hedge funds own 50.39% of the company’s stock.

About Alimera Sciences

Alimera Sciences, Inc, a pharmaceutical company, engages in the research, development, and commercialization of prescription ophthalmic pharmaceuticals in the United States and internationally. It focuses on diseases affecting the back of the eye or retina. The company offers ILUVIEN, an intravitreal implant for the treatment of diabetic macular edema (DME), which is a disease of the retina that affects individuals with diabetes and could lead to severe vision loss and blindness.

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