Zacks Investment Research Upgrades Alimera Sciences (NASDAQ:ALIM) to “Buy”

Alimera Sciences (NASDAQ:ALIM) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday, April 10th. The brokerage presently has a $1.25 price objective on the biopharmaceutical company’s stock. Zacks Investment Research‘s target price points to a potential upside of 12.61% 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. “

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Separately, HC Wainwright reaffirmed a “buy” rating and set a $5.00 price target on shares of Alimera Sciences in a research report on Monday, January 22nd. One investment analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $3.31.

Shares of Alimera Sciences stock opened at $1.11 on Tuesday. The company has a debt-to-equity ratio of -0.64, a quick ratio of 3.91 and a current ratio of 4.07. Alimera Sciences has a twelve month low of $1.00 and a twelve month high of $1.70.

Alimera Sciences (NASDAQ:ALIM) last issued its quarterly earnings data on Wednesday, February 28th. The biopharmaceutical company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.07). The company had revenue of $9.14 million for the quarter, compared to the consensus estimate of $9.60 million. research analysts predict that Alimera Sciences will post -0.06 earnings per share for the current fiscal year.

In other Alimera Sciences news, SVP Philip Ashman sold 25,500 shares of the company’s stock in a transaction on Friday, January 19th. The shares were sold at an average price of $1.20, for a total transaction of $30,600.00. Following the sale, the senior vice president now owns 12,750 shares of the company’s stock, valued at $15,300. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO C. Daniel Myers sold 52,900 shares of the company’s stock in a transaction on Friday, January 19th. The shares were sold at an average price of $1.20, for a total transaction of $63,480.00. Following the sale, the chief executive officer now directly owns 101,511 shares in the company, valued at approximately $121,813.20. The disclosure for this sale can be found here. Insiders have sold 91,810 shares of company stock worth $110,172 in the last ninety days. Insiders own 14.70% of the company’s stock.

An institutional investor recently raised its position in Alimera Sciences stock. Stonepine Capital Management LLC grew its stake in shares of Alimera Sciences (NASDAQ:ALIM) by 646.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,559,899 shares of the biopharmaceutical company’s stock after purchasing an additional 3,082,673 shares during the period. Alimera Sciences makes up 2.8% of Stonepine Capital Management LLC’s investment portfolio, making the stock its 15th biggest holding. Stonepine Capital Management LLC owned about 5.15% of Alimera Sciences worth $4,735,000 as of its most recent filing with the Securities and Exchange Commission. 46.11% of the stock is currently owned by hedge funds and other institutional investors.

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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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