Clearside Biomedical, Inc. (NASDAQ:CLSD) Receives Consensus Rating of “Buy” from Brokerages

Clearside Biomedical, Inc. (NASDAQ:CLSD) has been given a consensus rating of “Buy” by the six analysts that are currently covering the stock, MarketBeat Ratings reports. Six analysts have rated the stock with a buy recommendation. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $5.33.

A number of research firms recently commented on CLSD. HC Wainwright reiterated a “buy” rating and set a $6.00 price objective on shares of Clearside Biomedical in a research note on Thursday, November 14th. StockNews.com upgraded Clearside Biomedical from a “sell” rating to a “hold” rating in a research report on Saturday, November 16th. Needham & Company LLC restated a “buy” rating and issued a $6.00 price objective on shares of Clearside Biomedical in a report on Wednesday, November 13th. Finally, Chardan Capital reaffirmed a “buy” rating and set a $6.00 target price on shares of Clearside Biomedical in a report on Friday, November 15th.

Insider Buying and Selling at Clearside Biomedical

In related news, insider Ngai Hang Victor Chong bought 36,500 shares of the firm’s stock in a transaction on Friday, November 1st. The stock was bought at an average price of $1.00 per share, with a total value of $36,500.00. Following the purchase, the insider now directly owns 100,000 shares of the company’s stock, valued at approximately $100,000. This represents a 57.48 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 9.20% of the company’s stock.

Institutional Investors Weigh In On Clearside Biomedical

A number of hedge funds and other institutional investors have recently made changes to their positions in CLSD. SG Americas Securities LLC acquired a new stake in shares of Clearside Biomedical during the 1st quarter valued at about $49,000. XTX Topco Ltd grew its position in Clearside Biomedical by 172.2% in the second quarter. XTX Topco Ltd now owns 54,313 shares of the company’s stock worth $71,000 after acquiring an additional 34,359 shares in the last quarter. Johnson & Johnson bought a new stake in Clearside Biomedical in the third quarter worth approximately $105,000. Assenagon Asset Management S.A. acquired a new position in shares of Clearside Biomedical during the 2nd quarter worth $368,000. Finally, Renaissance Technologies LLC raised its holdings in shares of Clearside Biomedical by 6.6% during the 2nd quarter. Renaissance Technologies LLC now owns 582,689 shares of the company’s stock valued at $757,000 after purchasing an additional 35,900 shares in the last quarter. 18.75% of the stock is owned by hedge funds and other institutional investors.

Clearside Biomedical Stock Performance

Shares of CLSD stock opened at $1.04 on Friday. Clearside Biomedical has a 1 year low of $0.92 and a 1 year high of $2.12. The firm has a market capitalization of $78.84 million, a PE ratio of -2.31 and a beta of 2.33. The stock has a fifty day moving average of $1.18 and a two-hundred day moving average of $1.18.

Clearside Biomedical (NASDAQ:CLSD) last announced its earnings results on Tuesday, November 12th. The company reported ($0.10) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.04. The company had revenue of $1.04 million during the quarter, compared to the consensus estimate of $0.25 million. During the same quarter in the prior year, the company earned ($0.15) EPS. Equities research analysts predict that Clearside Biomedical will post -0.48 earnings per share for the current fiscal year.

Clearside Biomedical Company Profile

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.