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UPDATE: Oppenheimer Reiterates Outperform Rating, Lowers PT on Alimera Sciences

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In a report published Friday, Oppenheimer reiterated its Outperform rating on Alimera Sciences (NASDAQ: ALIM), but lowered its price target from $5.00 to $3.00.

Oppenheimer Holdings noted, “On 11/29, ALIM announced that the UK's National Institute for Health and Clinical Excellence (NICE) issued final draft guidance indicating ILUVIEN is not recommended for treatment of chronic diabetic macular edema (DME) unresponsive to existing therapies. The committee cited insufficient cost-effectiveness at current pricing levels. We expect ALIM to develop a patient access scheme per the agency's concerns to determine appropriate pricing. It is unclear at this time when this will occur; however, we do not expect it to impact launch in Germany during 1Q13. However, we do believe this UK ruling will impact pricing across the EU and thus are lowering our average price. This results in a reduction of our price target to $3/share from $5/share.”

Alimera Sciences closed on Thursday at $2.32.

Latest Ratings for ALIM

DateFirmActionFromTo
Nov 2014Summer StreetInitiates Coverage onBuy
Oct 2013Cowen & CompanyUpgradesMarket PerformOutperform
Oct 2013Northland SecuritiesUpgradesOutperform

View More Analyst Ratings for ALIM
View the Latest Analyst Ratings

Posted-In: Oppenheimer HoldingsAnalyst Color Price Target Analyst Ratings

 

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