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Alimera (ALIM) Gets a Buy Rating from B.Riley FBR


B.Riley FBR analyst Andrew D’silva maintained a Buy rating on Alimera (ALIM) on January 7 and set a price target of $2.75. The company’s shares closed yesterday at $0.88.

D’silva observed:

“We establish our $2.75 price target through an EV/sales valuation methodology on our 2020 projections, applying a 4x multiple to Iluvien’s DME-related sales of $68.9M and Iluvien’s NIPU sales of $8.9M. We then discount our sales estimates by 15% annually to 2019 and apply an 85% probability of success for NIPU to account for risks associated with obtaining regulatory approval.”

According to TipRanks.com, D’silva is a 4-star analyst with an average return of 10.4% and a 41.7% success rate. D’silva covers the Healthcare sector, focusing on stocks such as EyePoint Pharmaceuticals Inc, Imprimis Pharmaceuticals, and Oramed Pharmaceuticals.

Alimera has an analyst consensus of Moderate Buy, with a price target consensus of $2.63, a 198.9% upside from current levels. In a report released yesterday, H.C. Wainwright also reiterated a Buy rating on the stock with a $2.50 price target.

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Based on Alimera’s latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of $27.77 million. In comparison, last year the company had a GAAP net loss of $7.22 million.

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Alimera Sciences, Inc. engages in the research and development of biopharmaceutical products. It operates through the U.S. and International geographic segments. The firm focuses on the development of ophthalmic pharmaceuticals for the treatment of diabetic macular edema, wet and dry age-related macular degeneration, and retinal vein occlusion.

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