Alimera Sciences Inc (NASDAQ:ALIM) Given Average Recommendation of “Buy” by Analysts

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Alimera Sciences Inc (NASDAQ:ALIM) has received an average rating of “Buy” from the six analysts that are currently covering the firm, Marketbeat reports. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $3.00.

Several research firms have weighed in on ALIM. HC Wainwright reiterated a “buy” rating on shares of Interpace Diagnostics Group in a research report on Friday, June 21st. Craig Hallum reiterated a “hold” rating and set a $153.00 price objective (up previously from $128.00) on shares of Cavco Industries in a research report on Tuesday, May 28th. Finally, Zacks Investment Research cut EXACT Sciences from a “hold” rating to a “sell” rating in a research report on Tuesday, July 2nd.

Several hedge funds and other institutional investors have recently modified their holdings of ALIM. Royce & Associates LP grew its position in Alimera Sciences by 79.0% in the first quarter. Royce & Associates LP now owns 571,275 shares of the biopharmaceutical company’s stock valued at $606,000 after acquiring an additional 252,089 shares during the last quarter. Knott David M grew its position in Alimera Sciences by 3.9% in the first quarter. Knott David M now owns 402,901 shares of the biopharmaceutical company’s stock valued at $427,000 after acquiring an additional 15,000 shares during the last quarter. B. Riley Wealth Management Inc. grew its position in Alimera Sciences by 36.7% in the first quarter. B. Riley Wealth Management Inc. now owns 139,302 shares of the biopharmaceutical company’s stock valued at $148,000 after acquiring an additional 37,396 shares during the last quarter. Finally, Columbia Pacific Advisors LLC bought a new position in Alimera Sciences in the first quarter valued at about $54,000. Institutional investors own 50.73% of the company’s stock.

ALIM stock traded up $0.01 during trading hours on Tuesday, hitting $0.87. 35,749 shares of the stock were exchanged, compared to its average volume of 90,824. The firm has a 50-day moving average price of $0.90. Alimera Sciences has a 12 month low of $0.72 and a 12 month high of $1.21.

Alimera Sciences (NASDAQ:ALIM) last posted its quarterly earnings data on Monday, April 29th. The biopharmaceutical company reported ($0.04) earnings per share for the quarter, topping the consensus estimate of ($0.06) by $0.02. The firm had revenue of $12.89 million for the quarter, compared to the consensus estimate of $12.25 million. Equities research analysts expect that Alimera Sciences will post -0.1 earnings per share for the current fiscal year.

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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