Alimera Sciences (NASDAQ:ALIM) Stock Rating Upgraded by Zacks Investment Research

Alimera Sciences (NASDAQ:ALIM) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Tuesday, Zacks.com reports. The firm presently has a $3.75 target price on the biopharmaceutical company’s stock. Zacks Investment Research‘s price target would suggest a potential downside of 17.40% from the stock’s current price.

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. “

Several other analysts have also recently issued reports on ALIM. HC Wainwright reissued a “buy” rating and set a $15.00 price objective on shares of Alimera Sciences in a research note on Tuesday, February 25th. ValuEngine raised shares of Alimera Sciences from a “hold” rating to a “buy” rating in a research note on Tuesday, December 3rd. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $23.44.

ALIM stock traded down $0.07 during midday trading on Tuesday, hitting $4.54. The stock had a trading volume of 14,800 shares, compared to its average volume of 47,568. The firm has a market cap of $18.17 million, a PE ratio of -2.09 and a beta of 1.86. Alimera Sciences has a 12-month low of $2.86 and a 12-month high of $17.10. The company’s 50-day moving average price is $5.78 and its 200 day moving average price is $4.37.

Alimera Sciences (NASDAQ:ALIM) last released its earnings results on Wednesday, February 26th. The biopharmaceutical company reported $0.08 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.37) by $0.45. The firm had revenue of $17.35 million during the quarter, compared to analysts’ expectations of $14.50 million. On average, equities research analysts anticipate that Alimera Sciences will post -1.1 EPS for the current fiscal year.

Alimera Sciences Company Profile

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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