Alimera Sciences (NASDAQ:ALIM) Lowered to Hold at Zacks Investment Research

Zacks Investment Research lowered shares of Alimera Sciences (NASDAQ:ALIM) from a strong-buy rating to a hold rating in a research note published on Wednesday 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. “

Several other brokerages have also commented on ALIM. B. Riley dropped their price target on shares of Alimera Sciences from $24.00 to $15.00 and set a buy rating on the stock in a research note on Tuesday, April 7th. HC Wainwright dropped their price target on shares of Alimera Sciences from $15.00 to $14.00 and set a buy rating on the stock in a research note on Tuesday, April 14th.

Alimera Sciences stock traded down $0.07 during trading hours on Wednesday, hitting $5.64. The company had a trading volume of 280 shares, compared to its average volume of 47,222. The firm has a market capitalization of $31.70 million, a P/E ratio of -3.14 and a beta of 2.27. The firm’s fifty day moving average is $5.51 and its 200-day moving average is $5.86. Alimera Sciences has a fifty-two week low of $2.86 and a fifty-two week high of $14.24.

Alimera Sciences (NASDAQ:ALIM) last released its quarterly earnings data on Wednesday, April 29th. The biopharmaceutical company reported ($0.24) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.43) by $0.19. The company had revenue of $14.54 million during the quarter, compared to analyst estimates of $14.04 million. As a group, analysts expect that Alimera Sciences will post -2.33 EPS for the current 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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