Clearside Biomedical (NASDAQ:CLSD) Rating Lowered to Sell at StockNews.com

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

A number of other equities research analysts have also issued reports on CLSD. HC Wainwright reiterated a “buy” rating and set a $6.00 target price on shares of Clearside Biomedical in a report on Thursday, March 6th. Needham & Company LLC reissued a “buy” rating and issued a $6.00 price objective on shares of Clearside Biomedical in a research report on Thursday, March 6th. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $5.75.

Clearside Biomedical Stock Up 4.1 %

Clearside Biomedical stock opened at $1.01 on Tuesday. The firm has a market cap of $76.60 million, a PE ratio of -2.24 and a beta of 2.10. Clearside Biomedical has a 52-week low of $0.77 and a 52-week high of $1.80. The company’s 50 day moving average is $0.95 and its two-hundred day moving average is $1.05.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of CLSD. Investor s Fiduciary Advisor Network LLC purchased a new position in Clearside Biomedical during the 4th quarter worth $32,000. Johnson & Johnson purchased a new position in Clearside Biomedical during the 3rd quarter worth $105,000. Northern Trust Corp grew its position in Clearside Biomedical by 24.0% during the 4th quarter. Northern Trust Corp now owns 165,499 shares of the company’s stock worth $157,000 after purchasing an additional 32,048 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in Clearside Biomedical by 4.5% during the 4th quarter. Geode Capital Management LLC now owns 764,058 shares of the company’s stock worth $726,000 after purchasing an additional 32,672 shares during the last quarter. 18.75% of the stock is owned by hedge funds and other institutional investors.

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.