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

Zacks Investment Research downgraded shares of Alimera Sciences (NASDAQ:ALIM) from a buy rating to a hold rating in a research note issued to investors on Monday morning, 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. “

Other equities research analysts have also recently issued reports about the company. ValuEngine raised Alimera Sciences from a hold rating to a buy rating in a research note on Tuesday, December 3rd. HC Wainwright reissued a buy rating and set a $15.00 price objective on shares of Alimera Sciences in a research note on Wednesday, December 4th. Finally, B. Riley set a $30.00 price objective on Alimera Sciences and gave the stock a buy rating in a research note on Monday, September 30th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. The stock presently has a consensus rating of Buy and a consensus target price of $24.50.

Shares of ALIM stock opened at $7.08 on Monday. Alimera Sciences has a 12-month low of $2.96 and a 12-month high of $18.15. The stock’s 50-day moving average price is $7.20 and its 200-day moving average price is $2.46.

Alimera Sciences (NASDAQ:ALIM) last issued its earnings results on Tuesday, October 29th. The biopharmaceutical company reported ($0.60) earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.60). The firm had revenue of $12.85 million during the quarter, compared to the consensus estimate of $12.75 million. As a group, analysts predict that Alimera Sciences will post -2.62 EPS for the current year.

In related news, CEO Richard S. Eiswirth, Jr. acquired 100,000 shares of Alimera Sciences stock in a transaction on Thursday, November 14th. The shares were bought at an average cost of $5.21 per share, with a total value of $521,000.00. Also, Director John Snisarenko acquired 10,000 shares of Alimera Sciences stock in a transaction on Thursday, November 21st. The shares were bought at an average cost of $4.95 per share, for a total transaction of $49,500.00. Following the completion of the purchase, the director now directly owns 10,000 shares of the company’s stock, valued at $49,500. The disclosure for this purchase can be found here. Insiders have acquired 114,000 shares of company stock worth $595,270 over the last three months. 14.60% of the stock is currently owned by insiders.

A hedge fund recently raised its stake in Alimera Sciences stock. Tower Research Capital LLC TRC raised its holdings in shares of Alimera Sciences Inc (NASDAQ:ALIM) by 32,745.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 54,852 shares of the biopharmaceutical company’s stock after buying an additional 54,685 shares during the period. Tower Research Capital LLC TRC owned about 0.08% of Alimera Sciences worth $49,000 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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