Clearside Biomedical’s (CLSD) Buy Rating Reiterated at Chardan Capital

Chardan Capital reaffirmed their buy rating on shares of Clearside Biomedical (NASDAQ:CLSD) in a report released on Friday morning,Benzinga reports. Chardan Capital currently has a $6.00 target price on the stock.

Other equities research analysts have also recently issued reports about the company. Needham & Company LLC reissued a “buy” rating and set a $6.00 price target on shares of Clearside Biomedical in a report on Wednesday, November 13th. HC Wainwright reissued a “buy” rating and set a $6.00 target price on shares of Clearside Biomedical in a research note on Thursday. Finally, StockNews.com downgraded Clearside Biomedical from a “hold” rating to a “sell” rating in a research note on Friday, November 8th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $5.33.

Clearside Biomedical Trading Down 5.7 %

Clearside Biomedical stock opened at $0.99 on Friday. Clearside Biomedical has a 12-month low of $0.90 and a 12-month high of $2.12. The firm has a market capitalization of $75.08 million, a price-to-earnings ratio of -2.20 and a beta of 2.33. The firm has a 50 day moving average of $1.19 and a 200 day moving average of $1.19.

Clearside Biomedical (NASDAQ:CLSD) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.10) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.04. The firm had revenue of $1.04 million during the quarter, compared to analysts’ expectations of $0.25 million. During the same period last year, the company earned ($0.15) earnings per share. On average, analysts predict that Clearside Biomedical will post -0.51 EPS for the current year.

Insider Transactions at Clearside Biomedical

In other Clearside Biomedical news, insider Ngai Hang Victor Chong purchased 36,500 shares of the stock in a transaction that occurred on Friday, November 1st. The stock was purchased at an average price of $1.00 per share, with a total value of $36,500.00. Following the acquisition, the insider now owns 100,000 shares in the company, valued at approximately $100,000. The trade was a 57.48 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 9.20% of the company’s stock.

Institutional Investors Weigh In On Clearside Biomedical

Large investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC boosted its holdings in shares of Clearside Biomedical by 8.8% in the 3rd quarter. Geode Capital Management LLC now owns 731,386 shares of the company’s stock worth $929,000 after purchasing an additional 59,089 shares during the period. Johnson & Johnson bought a new stake in Clearside Biomedical in the third quarter worth $105,000. XTX Topco Ltd boosted its stake 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 period. Renaissance Technologies LLC boosted 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 worth $757,000 after buying an additional 35,900 shares during the period. Finally, Assenagon Asset Management S.A. bought a new position in Clearside Biomedical during the second quarter valued at $368,000. 18.75% of the stock is owned by institutional investors.

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.