Alimera Sciences (NASDAQ:ALIM) Downgraded by Zacks Investment Research

Zacks Investment Research lowered shares of Alimera Sciences (NASDAQ:ALIM) from a buy rating to a hold rating in a research report released on Monday, 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. “

A number of other equities analysts also recently issued reports on ALIM. B. Riley set a $30.00 price target on Alimera Sciences and gave the stock a buy rating in a research report on Monday, September 30th. HC Wainwright reaffirmed a buy rating and set a $15.00 price target on shares of Alimera Sciences in a research report on Wednesday, December 4th. Finally, ValuEngine raised Alimera Sciences from a hold rating to a buy rating in a research report on Tuesday, December 3rd. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Alimera Sciences currently has a consensus rating of Buy and a consensus price target of $24.50.

Shares of ALIM stock opened at $7.08 on Monday. The business’s fifty day simple moving average is $7.20 and its 200-day simple moving average is $2.46. Alimera Sciences has a 12-month low of $2.96 and a 12-month high of $18.15.

Alimera Sciences (NASDAQ:ALIM) last issued its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported ($0.60) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.60). The business had revenue of $12.85 million for the quarter, compared to analyst estimates of $12.75 million. On average, analysts predict that Alimera Sciences will post -2.62 earnings per share for the current year.

In other news, Director John Snisarenko bought 10,000 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The shares were purchased at an average cost of $4.95 per share, with a total value of $49,500.00. Following the transaction, the director now directly owns 10,000 shares in the company, valued at $49,500. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Richard S. Eiswirth, Jr. bought 100,000 shares of the business’s stock in a transaction that occurred on Thursday, November 14th. The stock was purchased at an average cost of $5.21 per share, for a total transaction of $521,000.00. Over the last ninety days, insiders have bought 114,000 shares of company stock worth $595,270. Insiders own 14.60% of the company’s stock.

A hedge fund recently raised its stake in Alimera Sciences stock. Renaissance Technologies LLC raised its holdings in Alimera Sciences Inc (NASDAQ:ALIM) by 13.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,128,404 shares of the biopharmaceutical company’s stock after purchasing an additional 130,414 shares during the quarter. Renaissance Technologies LLC owned 1.59% of Alimera Sciences worth $1,004,000 at the end of the most recent reporting period.

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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