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

Clearside Biomedical, Inc. (NASDAQ:CLSD) has been assigned an average recommendation of “Buy” from the six analysts that are covering the stock, Marketbeat.com reports. Six investment analysts have rated the stock with a buy recommendation. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $5.33.

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

Clearside Biomedical Price Performance

Clearside Biomedical stock opened at $1.07 on Wednesday. The firm has a market cap of $81.15 million, a PE ratio of -2.38 and a beta of 2.22. The stock’s fifty day moving average price is $0.97 and its two-hundred day moving average price is $1.07. Clearside Biomedical has a one year low of $0.80 and a one year high of $2.12.

Clearside Biomedical (NASDAQ:CLSD) last released its earnings results on Tuesday, November 12th. The company reported ($0.10) EPS for the quarter, beating the consensus estimate 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 period in the prior year, the business earned ($0.15) earnings per share. Sell-side analysts expect that Clearside Biomedical will post -0.48 earnings per share for the current fiscal year.

Institutional Trading of Clearside Biomedical

Hedge funds have recently bought and sold shares of the business. Johnson & Johnson bought a new stake in Clearside Biomedical during the 3rd quarter worth approximately $105,000. Renaissance Technologies LLC boosted its position in shares of Clearside Biomedical by 6.6% during the second 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 last quarter. Finally, Geode Capital Management LLC grew its holdings in Clearside Biomedical by 8.8% during the third quarter. Geode Capital Management LLC now owns 731,386 shares of the company’s stock worth $929,000 after buying an additional 59,089 shares in the last quarter. Institutional investors and hedge funds own 18.75% of the company’s stock.

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.