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

Shares of Clearside Biomedical, Inc. (NASDAQ:CLSD) have been assigned a consensus recommendation of “Buy” from the six brokerages that are covering the stock, MarketBeat.com reports. Six research analysts have rated the stock with a buy rating. The average 1 year price target among brokerages that have covered the stock in the last year is $5.17.

A number of equities research analysts have recently issued reports on the stock. Needham & Company LLC boosted their price objective on shares of Clearside Biomedical from $4.00 to $6.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. StockNews.com raised shares of Clearside Biomedical from a “sell” rating to a “hold” rating in a research report on Friday, October 18th. Chardan Capital reissued a “buy” rating and set a $6.00 price objective on shares of Clearside Biomedical in a research report on Monday, October 14th. Finally, HC Wainwright reissued a “buy” rating and set a $5.00 price objective on shares of Clearside Biomedical in a research report on Tuesday, August 27th.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of CLSD. SG Americas Securities LLC bought a new position in Clearside Biomedical in the 1st quarter worth $49,000. Vanguard Group Inc. boosted its holdings in shares of Clearside Biomedical by 14.5% during the 1st quarter. Vanguard Group Inc. now owns 2,490,796 shares of the company’s stock valued at $3,811,000 after purchasing an additional 314,480 shares during the last quarter. Assenagon Asset Management S.A. bought a new position in shares of Clearside Biomedical during the 2nd quarter valued at about $368,000. Renaissance Technologies LLC boosted its holdings in shares of 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 purchasing an additional 35,900 shares during the last quarter. Finally, XTX Topco Ltd boosted its holdings in shares of Clearside Biomedical by 172.2% during the 2nd 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. Institutional investors own 18.75% of the company’s stock.

Clearside Biomedical Trading Down 1.0 %

Shares of CLSD opened at $1.01 on Monday. The firm has a market cap of $75.48 million, a PE ratio of -2.02 and a beta of 2.33. The firm has a fifty day simple moving average of $1.17 and a two-hundred day simple moving average of $1.20. Clearside Biomedical has a 1-year low of $0.76 and a 1-year high of $2.12.

Clearside Biomedical (NASDAQ:CLSD) last issued its quarterly earnings data on Monday, August 12th. The company reported ($0.10) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.04. The business had revenue of $0.09 million for the quarter, compared to the consensus estimate of $0.25 million. During the same period in the previous year, the firm earned ($0.15) EPS. As a group, research analysts forecast that Clearside Biomedical will post -0.56 EPS for the current fiscal year.

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.