Alimera Sciences’ (ALIM) “Buy” Rating Reiterated at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Alimera Sciences (NASDAQ:ALIM) in a report issued on Wednesday morning. They currently have a $3.00 price target on the biopharmaceutical company’s stock.

A number of other research firms have also recently issued reports on ALIM. Cowen restated a buy rating and set a $3.00 price objective on shares of Alimera Sciences in a research report on Wednesday, September 5th. Zacks Investment Research upgraded Alimera Sciences from a sell rating to a hold rating in a research report on Tuesday, July 10th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus price target of $2.50.

Shares of ALIM stock traded down $0.02 during trading hours on Wednesday, reaching $1.08. 36,423 shares of the company’s stock were exchanged, compared to its average volume of 99,417. The firm has a market cap of $78.44 million, a PE ratio of -3.72 and a beta of 1.63. Alimera Sciences has a fifty-two week low of $0.74 and a fifty-two week high of $1.38.

Alimera Sciences (NASDAQ:ALIM) last released its quarterly earnings data on Monday, November 5th. The biopharmaceutical company reported ($0.05) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.01. The firm had revenue of $11.14 million for the quarter, compared to the consensus estimate of $11.12 million. On average, equities analysts expect that Alimera Sciences will post -0.26 EPS for the current fiscal year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. increased its position in shares of Alimera Sciences by 28.5% during the second quarter. BlackRock Inc. now owns 272,248 shares of the biopharmaceutical company’s stock valued at $266,000 after purchasing an additional 60,327 shares during the period. Renaissance Technologies LLC increased its position in shares of Alimera Sciences by 20.8% during the second quarter. Renaissance Technologies LLC now owns 574,000 shares of the biopharmaceutical company’s stock valued at $562,000 after purchasing an additional 99,000 shares during the period. Finally, Stonepine Capital Management LLC increased its position in shares of Alimera Sciences by 13.0% during the second quarter. Stonepine Capital Management LLC now owns 6,981,184 shares of the biopharmaceutical company’s stock valued at $6,830,000 after purchasing an additional 801,151 shares during the period. Institutional investors and hedge funds own 51.84% of the company’s stock.

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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