Analysts Set Clearside Biomedical, Inc. (NASDAQ:CLSD) Price Target at $5.33

Clearside Biomedical, Inc. (NASDAQ:CLSD) has received an average rating of “Buy” from the six brokerages that are presently covering the stock, Marketbeat Ratings reports. Six investment analysts have rated the stock with a buy recommendation. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $5.33.

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

Clearside Biomedical Trading Down 4.1 %

Shares of NASDAQ:CLSD opened at $0.93 on Tuesday. Clearside Biomedical has a 12-month low of $0.92 and a 12-month high of $2.12. The stock’s 50-day moving average price is $1.07 and its two-hundred day moving average price is $1.14. The firm has a market cap of $70.53 million, a price-to-earnings ratio of -2.07 and a beta of 2.29.

Clearside Biomedical (NASDAQ:CLSD) last issued its earnings results 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 for the quarter, compared to analysts’ expectations of $0.25 million. During the same quarter in the previous year, the firm posted ($0.15) EPS. As a group, research analysts forecast that Clearside Biomedical will post -0.48 earnings per share for the current fiscal year.

Insider Buying and Selling at Clearside Biomedical

In other news, insider Ngai Hang Victor Chong purchased 36,500 shares of the stock in a transaction dated Friday, November 1st. The shares were bought at an average cost of $1.00 per share, for a total transaction of $36,500.00. Following the transaction, the insider now owns 100,000 shares in the company, valued at $100,000. This trade represents a 57.48 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 9.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On Clearside Biomedical

Several hedge funds and other institutional investors have recently bought and sold shares of CLSD. XTX Topco Ltd lifted its holdings 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 purchasing an additional 34,359 shares during the last quarter. Johnson & Johnson acquired a new stake in shares of Clearside Biomedical during the 3rd quarter valued at $105,000. Assenagon Asset Management S.A. acquired a new stake in Clearside Biomedical during the second quarter valued at $368,000. Renaissance Technologies LLC grew its stake in shares of Clearside Biomedical by 6.6% in 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 in the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Clearside Biomedical by 8.8% during 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 last quarter. 18.75% of the stock is currently 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.