Clearside Biomedical, Inc. (NASDAQ:CLSD) Given Consensus Recommendation of “Buy” by Analysts

Shares of Clearside Biomedical, Inc. (NASDAQ:CLSD) have received an average rating of “Buy” from the four analysts that are covering the firm, MarketBeat.com reports. Four research analysts have rated the stock with a buy rating. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $4.75.

CLSD has been the subject of several analyst reports. HC Wainwright reiterated a “buy” rating and issued a $6.00 target price on shares of Clearside Biomedical in a research note on Thursday, March 14th. Wedbush restated an “outperform” rating and set a $4.00 price objective (down from $5.00) on shares of Clearside Biomedical in a research report on Wednesday, March 13th. JMP Securities restated a “market outperform” rating and set a $5.00 price objective on shares of Clearside Biomedical in a research report on Wednesday, March 13th. Finally, StockNews.com upgraded shares of Clearside Biomedical from a “sell” rating to a “hold” rating in a research report on Saturday, February 10th.

Clearside Biomedical Price Performance

CLSD opened at $1.67 on Friday. The firm has a fifty day moving average price of $1.44 and a 200 day moving average price of $1.15. Clearside Biomedical has a 1 year low of $0.65 and a 1 year high of $2.12. The stock has a market cap of $124.78 million, a P/E ratio of -3.15 and a beta of 2.28.

Insider Transactions at Clearside Biomedical

In other Clearside Biomedical news, insider Ngai Hang Victor Chong bought 30,000 shares of the company’s stock in a transaction dated Wednesday, March 20th. The stock was acquired at an average price of $1.60 per share, with a total value of $48,000.00. Following the completion of the acquisition, the insider now directly owns 30,000 shares of the company’s stock, valued at $48,000. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, major shareholder Bradford T. Whitmore bought 444,444 shares of the firm’s stock in a transaction on Wednesday, February 7th. The shares were bought at an average price of $1.35 per share, with a total value of $599,999.40. Following the completion of the transaction, the insider now directly owns 4,495,034 shares of the company’s stock, valued at approximately $6,068,295.90. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Ngai Hang Victor Chong bought 30,000 shares of the firm’s stock in a transaction on Wednesday, March 20th. The stock was bought at an average cost of $1.60 per share, for a total transaction of $48,000.00. Following the transaction, the insider now directly owns 30,000 shares of the company’s stock, valued at $48,000. The disclosure for this purchase can be found here. Insiders own 9.80% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of CLSD. Balyasny Asset Management LLC acquired a new stake in shares of Clearside Biomedical during the third quarter worth about $25,000. Mackenzie Financial Corp acquired a new stake in shares of Clearside Biomedical during the first quarter worth about $27,000. JPMorgan Chase & Co. lifted its position in shares of Clearside Biomedical by 100.6% during the second quarter. JPMorgan Chase & Co. now owns 18,161 shares of the company’s stock worth $27,000 after purchasing an additional 9,109 shares in the last quarter. Stifel Financial Corp lifted its position in shares of Clearside Biomedical by 375.6% during the second quarter. Stifel Financial Corp now owns 60,544 shares of the company’s stock worth $68,000 after purchasing an additional 47,814 shares in the last quarter. Finally, XTX Topco Ltd lifted its position in shares of Clearside Biomedical by 125.6% during the first quarter. XTX Topco Ltd now owns 50,947 shares of the company’s stock worth $117,000 after purchasing an additional 28,366 shares in the last quarter. Institutional investors and hedge funds 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.