StockNews.com Upgrades Clearside Biomedical (NASDAQ:CLSD) to “Hold”

Clearside Biomedical (NASDAQ:CLSD) was upgraded by equities research analysts at StockNews.com from a “sell” rating to a “hold” rating in a note issued to investors on Friday.

Several other analysts have also recently commented on the company. Chardan Capital reissued a “buy” rating and issued a $6.00 price target on shares of Clearside Biomedical in a report on Monday, October 14th. Needham & Company LLC upped their target price on Clearside Biomedical from $4.00 to $6.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Oppenheimer assumed coverage on Clearside Biomedical in a research note on Tuesday, June 25th. They issued an “outperform” rating and a $5.00 target price for the company. Finally, HC Wainwright reiterated a “buy” rating and issued a $5.00 target price on shares of Clearside Biomedical in a research note on Tuesday, August 27th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $5.17.

Clearside Biomedical Price Performance

Shares of NASDAQ CLSD opened at $1.15 on Friday. The stock’s 50-day moving average is $1.16 and its two-hundred day moving average is $1.22. Clearside Biomedical has a 1-year low of $0.65 and a 1-year high of $2.12. The company has a market cap of $85.94 million, a price-to-earnings ratio of -2.09 and a beta of 2.35.

Clearside Biomedical (NASDAQ:CLSD) last released its quarterly earnings data on Monday, August 12th. The company reported ($0.10) EPS for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.04. The business had revenue of $0.09 million during the quarter, compared to analysts’ expectations of $0.25 million. During the same quarter in the previous year, the company posted ($0.15) EPS. Equities research analysts anticipate that Clearside Biomedical will post -0.56 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Clearside Biomedical

A number of institutional investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC purchased a new stake in shares of Clearside Biomedical in the first quarter worth about $49,000. International Assets Investment Management LLC purchased a new position in Clearside Biomedical in the first quarter valued at about $57,000. XTX Topco Ltd boosted its holdings in Clearside Biomedical by 172.2% in the second quarter. XTX Topco Ltd now owns 54,313 shares of the company’s stock valued at $71,000 after purchasing an additional 34,359 shares during the last quarter. Assenagon Asset Management S.A. acquired a new stake in Clearside Biomedical during the second quarter valued at approximately $368,000. Finally, Renaissance Technologies LLC raised its stake in Clearside Biomedical by 6.6% during the second quarter. Renaissance Technologies LLC now owns 582,689 shares of the company’s stock valued at $757,000 after buying an additional 35,900 shares in the last quarter. Hedge funds and other institutional investors own 18.75% of the company’s stock.

About Clearside Biomedical

Clearside Biomedical, Inc, a biopharmaceutical company, focuses on the revolutionizing the delivery of therapies to the back of the eye through the suprachoroidal space. It offers XIPERE, a triamcinolone acetonide suprachoroidal injectable suspension for the treatment of uveitis macular edema. It also develops CLS-AX, an axitinib injectable suspension for suprachoroidal injection, which is in Phase IIb clinical trial to treat wet AMD.