Clearside Biomedical (NASDAQ:CLSD) Upgraded at StockNews.com

StockNews.com upgraded shares of Clearside Biomedical (NASDAQ:CLSD) from a sell rating to a hold rating in a report published on Saturday morning.

A number of other brokerages have also recently weighed in on CLSD. Needham & Company LLC reissued a “buy” rating and set a $6.00 target price on shares of Clearside Biomedical in a report on Wednesday, November 13th. Chardan Capital reiterated a “buy” rating and set a $6.00 price objective on shares of Clearside Biomedical in a research note on Friday. Finally, HC Wainwright reissued a “buy” rating and issued a $6.00 target price on shares of Clearside Biomedical in a report on Thursday, November 14th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $5.33.

Clearside Biomedical Stock Up 3.0 %

Shares of Clearside Biomedical stock opened at $1.02 on Friday. The business has a 50-day moving average price of $1.19 and a 200 day moving average price of $1.19. Clearside Biomedical has a fifty-two week low of $0.92 and a fifty-two week high of $2.12. The firm has a market cap of $77.36 million, a P/E ratio of -2.22 and a beta of 2.33.

Clearside Biomedical (NASDAQ:CLSD) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.10) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.04. The firm had revenue of $1.04 million during the quarter, compared to the consensus estimate of $0.25 million. During the same quarter last year, the firm posted ($0.15) earnings per share. As a group, equities research analysts anticipate that Clearside Biomedical will post -0.51 earnings per share for the current year.

Insider Buying and Selling

In other Clearside Biomedical 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 stock was acquired at an average cost of $1.00 per share, with a total value of $36,500.00. Following the acquisition, the insider now directly owns 100,000 shares of the company’s stock, valued at $100,000. This represents a 57.48 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 9.20% of the company’s stock.

Institutional Trading of Clearside Biomedical

Several hedge funds have recently added to or reduced their stakes in the business. Geode Capital Management LLC grew its stake 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 worth $929,000 after purchasing an additional 59,089 shares in the last quarter. Johnson & Johnson bought a new position in Clearside Biomedical in the 3rd quarter valued at about $105,000. XTX Topco Ltd grew its position in Clearside Biomedical by 172.2% in the 2nd 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 in the last quarter. Renaissance Technologies LLC increased its stake in 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 buying an additional 35,900 shares during the period. Finally, Assenagon Asset Management S.A. bought a new stake in shares of Clearside Biomedical during the 2nd quarter worth about $368,000. Institutional investors own 18.75% of the company’s stock.

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.