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

Zacks Investment Research lowered shares of Alimera Sciences (NASDAQ:ALIM) from a hold rating to a sell rating in a report issued on Friday morning.

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 equities research analysts have also recently commented on ALIM. HC Wainwright set a $3.00 price target on Alimera Sciences and gave the company a buy rating in a report on Tuesday, May 8th. ValuEngine raised Alimera Sciences from a strong sell rating to a sell rating in a report on Wednesday, May 2nd.

NASDAQ:ALIM opened at $0.82 on Friday. Alimera Sciences has a one year low of $0.80 and a one year high of $1.65. The company has a debt-to-equity ratio of -0.62, a quick ratio of 4.64 and a current ratio of 4.81.

Alimera Sciences (NASDAQ:ALIM) last posted its quarterly earnings results on Wednesday, February 28th. The biopharmaceutical company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.07). The company had revenue of $9.14 million during the quarter, compared to analysts’ expectations of $9.60 million. sell-side analysts anticipate that Alimera Sciences will post -0.17 EPS for the current fiscal year.

An institutional investor recently raised its position in Alimera Sciences stock. Armistice Capital LLC increased its holdings in Alimera Sciences (NASDAQ:ALIM) by 8.7% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 6,812,000 shares of the biopharmaceutical company’s stock after acquiring an additional 548,000 shares during the period. Armistice Capital LLC owned approximately 9.85% of Alimera Sciences worth $9,060,000 at the end of the most recent quarter. 46.11% of the stock is currently 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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