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

Shares of Clearside Biomedical, Inc. (NASDAQ:CLSD) have been given a consensus recommendation of “Buy” by the six ratings firms that are covering the stock, MarketBeat.com reports. Six research analysts have rated the stock with a buy recommendation. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $4.83.

A number of analysts have recently issued reports on CLSD shares. Oppenheimer started coverage on Clearside Biomedical in a report on Tuesday, June 25th. They issued an “outperform” rating and a $5.00 target price for the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $4.00 price target on shares of Clearside Biomedical in a research report on Tuesday, August 13th. Chardan Capital initiated coverage on shares of Clearside Biomedical in a research report on Wednesday, August 21st. They set a “buy” rating and a $6.00 target price for the company. Finally, HC Wainwright reaffirmed a “buy” rating and set a $5.00 target price on shares of Clearside Biomedical in a research report on Tuesday, August 27th.

Clearside Biomedical Price Performance

CLSD opened at $1.34 on Thursday. The business has a 50 day moving average price of $1.11 and a two-hundred day moving average price of $1.24. Clearside Biomedical has a 1-year low of $0.65 and a 1-year high of $2.12. The company has a market capitalization of $100.14 million, a price-to-earnings ratio of -2.44 and a beta of 2.34.

Clearside Biomedical (NASDAQ:CLSD) last announced 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 company had revenue of $0.09 million for the quarter, compared to analyst estimates of $0.25 million. During the same quarter last year, the company posted ($0.15) EPS. Equities analysts expect that Clearside Biomedical will post -0.56 EPS for the current fiscal year.

Hedge Funds Weigh In On Clearside Biomedical

A number of institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in Clearside Biomedical by 14.5% during the 1st quarter. Vanguard Group Inc. now owns 2,490,796 shares of the company’s stock worth $3,811,000 after purchasing an additional 314,480 shares during the last quarter. Assenagon Asset Management S.A. acquired a new stake in Clearside Biomedical during the 2nd quarter worth $368,000. International Assets Investment Management LLC acquired a new position in shares of Clearside Biomedical in the 1st quarter valued at $57,000. Renaissance Technologies LLC increased its holdings in Clearside Biomedical by 6.6% in the second 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 during the last quarter. Finally, XTX Topco Ltd boosted its holdings in Clearside Biomedical by 172.2% during the second quarter. XTX Topco Ltd now owns 54,313 shares of the company’s stock worth $71,000 after buying an additional 34,359 shares during the last quarter. 18.75% of the stock is owned by 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.