Alimera Sciences (NASDAQ:ALIM) Upgraded by ValuEngine to “Buy”

Alimera Sciences (NASDAQ:ALIM) was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating in a note issued to investors on Thursday, ValuEngine reports.

Other equities research analysts also recently issued research reports about the stock. Craig Hallum began coverage on shares of Alimera Sciences in a research report on Tuesday, May 28th. They issued a “buy” rating and a $3.00 target price for the company. HC Wainwright reaffirmed a “buy” rating on shares of Alimera Sciences in a report on Friday, June 21st. Finally, Zacks Investment Research lowered shares of Alimera Sciences from a “buy” rating to a “hold” rating in a report on Tuesday, July 2nd. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $2.50.

Shares of ALIM traded up $0.11 during midday trading on Thursday, hitting $0.60. The company had a trading volume of 722,026 shares, compared to its average volume of 126,007. The firm has a 50 day moving average price of $0.88. Alimera Sciences has a 52 week low of $0.46 and a 52 week high of $1.21.

Alimera Sciences (NASDAQ:ALIM) last released its earnings results on Monday, July 29th. The biopharmaceutical company reported ($0.07) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.04) by ($0.03). The firm had revenue of $10.86 million for the quarter, compared to the consensus estimate of $12.97 million. As a group, sell-side analysts expect that Alimera Sciences will post -0.1 earnings per share for the current year.

Several hedge funds and other institutional investors have recently bought and sold shares of ALIM. Royce & Associates LP boosted its holdings in shares of Alimera Sciences by 79.0% in the 1st quarter. Royce & Associates LP now owns 571,275 shares of the biopharmaceutical company’s stock valued at $606,000 after buying an additional 252,089 shares during the period. Columbia Pacific Advisors LLC acquired a new position in shares of Alimera Sciences in the 1st quarter valued at about $54,000. B. Riley Wealth Management Inc. boosted its holdings in shares of Alimera Sciences by 36.7% in the 1st quarter. B. Riley Wealth Management Inc. now owns 139,302 shares of the biopharmaceutical company’s stock valued at $148,000 after buying an additional 37,396 shares during the period. Finally, Knott David M boosted its holdings in shares of Alimera Sciences by 3.9% in the 1st quarter. Knott David M now owns 402,901 shares of the biopharmaceutical company’s stock valued at $427,000 after buying an additional 15,000 shares during the period. 50.71% of the stock is owned by institutional investors and hedge funds.

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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To view ValuEngine’s full report, visit ValuEngine’s official website.

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