Alimera Sciences (ALIM) Cut to “Sell” at Zacks Investment Research

Zacks Investment Research cut shares of Alimera Sciences (NASDAQ:ALIM) from a hold rating to a sell rating in a report published on Friday, May 11th.

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 analysts have also recently weighed in on the stock. HC Wainwright reissued a buy rating and set a $5.00 price objective on shares of Alimera Sciences in a report on Monday, January 22nd. ValuEngine upgraded shares of Alimera Sciences from a strong sell rating to a sell rating in a research report on Wednesday, May 2nd.

Shares of ALIM opened at $0.77 on Friday. Alimera Sciences has a 1 year low of $0.74 and a 1 year high of $1.65. The company has a current ratio of 4.81, a quick ratio of 4.64 and a debt-to-equity ratio of -0.62.

Alimera Sciences (NASDAQ:ALIM) last issued its earnings results on Wednesday, February 28th. The biopharmaceutical company reported ($0.10) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.03) by ($0.07). The company had revenue of $9.14 million for the quarter, compared to analysts’ expectations of $9.60 million. research analysts forecast that Alimera Sciences will post -0.3 earnings per share for the current fiscal year.

A hedge fund recently raised its stake in Alimera Sciences stock. Stonepine Capital Management LLC boosted its position in Alimera Sciences (NASDAQ:ALIM) by 646.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,559,899 shares of the biopharmaceutical company’s stock after buying an additional 3,082,673 shares during the period. Alimera Sciences makes up about 2.8% of Stonepine Capital Management LLC’s holdings, making the stock its 15th biggest position. Stonepine Capital Management LLC owned approximately 5.15% of Alimera Sciences worth $4,735,000 at the end of the most recent reporting period. 49.63% of the stock is owned by institutional investors and hedge funds.

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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