Alimera Sciences soars after Alliance Global upgrades stock to 'buy'

Alimera Sciences

12/06/2023 19:59

** Shares of eye drug developer Alimera Sciences Inc
 ALIM.O  rise 15.6% to $2.89
    ** Brokerage Alliance Global Partners raises stock rating to
'buy' from 'neutral', while also raising its PT to $8 from $4.5
    ** Says co to benefit from $75 mln deal with EyePoint
Pharmaceuticals Inc  EYPT.O  for sale of non-infectious eye
disease drug, Yutiq 
    ** Sees ALIM's EPS and operating cash flow to be positive in
2023 with the addition of Yutiq, further citing its optimistic
outlook 
    ** Also sees positive results from co's ongoing study of
Iluvien for diabetic macular edema in early 2025, expects global
Iluvien sales to reach $44 mln
    ** Including session's gains, stock has risen 5.54% YTD

 (Reporting by Sruthi Narasimha Chari in Bengaluru)
 ((Sruthinarasimha.chari@thomsonreuters.com))