Clearside Biomedical, Inc. (NASDAQ:CLSD) Receives $5.33 Average PT from Analysts

Shares of Clearside Biomedical, Inc. (NASDAQ:CLSD) have been assigned an average recommendation of “Buy” from the six ratings firms that are currently covering the company, Marketbeat.com reports. Six analysts have rated the stock with a buy rating. The average twelve-month price target among brokers that have covered the stock in the last year is $5.33.

A number of brokerages recently commented on CLSD. StockNews.com upgraded Clearside Biomedical from a “sell” rating to a “hold” rating in a report on Thursday, December 12th. Needham & Company LLC reaffirmed a “buy” rating and set a $6.00 target price on shares of Clearside Biomedical in a research note on Wednesday, November 13th. Chardan Capital restated a “buy” rating and issued a $6.00 price target on shares of Clearside Biomedical in a research note on Friday, November 15th. Finally, HC Wainwright reiterated a “buy” rating and issued a $6.00 price objective on shares of Clearside Biomedical in a research note on Thursday, November 14th.

Clearside Biomedical Stock Down 5.1 %

Shares of CLSD opened at $0.93 on Friday. Clearside Biomedical has a 52-week low of $0.80 and a 52-week high of $2.12. The stock has a fifty day simple moving average of $1.01 and a two-hundred day simple moving average of $1.11. The company has a market capitalization of $70.50 million, a PE ratio of -2.07 and a beta of 2.20.

Clearside Biomedical (NASDAQ:CLSD) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.10) EPS for the quarter, beating the consensus estimate of ($0.14) by $0.04. The firm had revenue of $1.04 million for the quarter, compared to analysts’ expectations of $0.25 million. During the same period in the previous year, the firm posted ($0.15) EPS. As a group, equities analysts anticipate that Clearside Biomedical will post -0.48 earnings per share for the current fiscal year.

Insider Buying and Selling at Clearside Biomedical

In related news, insider Ngai Hang Victor Chong acquired 36,500 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The shares were purchased at an average price of $1.00 per share, with a total value of $36,500.00. Following the completion of the acquisition, the insider now owns 100,000 shares in the company, valued at approximately $100,000. This represents a 57.48 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. 9.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Clearside Biomedical

A number of large investors have recently added to or reduced their stakes in CLSD. Geode Capital Management LLC lifted its position in shares of Clearside Biomedical by 8.8% in the third quarter. Geode Capital Management LLC now owns 731,386 shares of the company’s stock valued at $929,000 after acquiring an additional 59,089 shares in the last quarter. Johnson & Johnson acquired a new position in shares of Clearside Biomedical in the third quarter valued at approximately $105,000. XTX Topco Ltd lifted its stake in shares of Clearside Biomedical by 172.2% during the second quarter. XTX Topco Ltd now owns 54,313 shares of the company’s stock valued at $71,000 after buying an additional 34,359 shares during the period. Finally, Renaissance Technologies LLC boosted its position in Clearside Biomedical by 6.6% during the second quarter. Renaissance Technologies LLC now owns 582,689 shares of the company’s stock worth $757,000 after acquiring an additional 35,900 shares during the last quarter. 18.75% of the stock is owned by institutional investors and hedge funds.

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.