HC Wainwright Reaffirms Buy Rating for Clearside Biomedical (NASDAQ:CLSD)

Clearside Biomedical (NASDAQ:CLSD)‘s stock had its “buy” rating reaffirmed by equities research analysts at HC Wainwright in a note issued to investors on Thursday,Benzinga reports. They currently have a $6.00 price target on the stock. HC Wainwright’s price objective would indicate a potential upside of 455.56% from the stock’s current price.

Other analysts also recently issued reports about the stock. Needham & Company LLC reissued a “buy” rating and set a $6.00 price objective on shares of Clearside Biomedical in a research report on Wednesday. StockNews.com lowered shares of Clearside Biomedical from a “hold” rating to a “sell” rating in a report on Friday, November 8th. Finally, Chardan Capital reissued a “buy” rating and issued a $6.00 target price on shares of Clearside Biomedical in a report on Monday, October 14th. One investment analyst has rated the stock with a sell rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Clearside Biomedical presently has a consensus rating of “Moderate Buy” and a consensus price target of $5.33.

Clearside Biomedical Stock Performance

CLSD stock opened at $1.08 on Thursday. The firm has a 50 day moving average price of $1.19 and a 200-day moving average price of $1.19. Clearside Biomedical has a 52-week low of $0.90 and a 52-week high of $2.12. The firm has a market capitalization of $80.71 million, a price-to-earnings ratio of -2.40 and a beta of 2.33.

Clearside Biomedical (NASDAQ:CLSD) last released its earnings results on Monday, August 12th. The company reported ($0.10) EPS for the quarter, topping the consensus estimate of ($0.14) by $0.04. The company had revenue of $0.09 million during the quarter, compared to the consensus estimate of $0.25 million. During the same period last year, the firm posted ($0.15) earnings per share. As a group, sell-side analysts forecast that Clearside Biomedical will post -0.56 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Clearside Biomedical news, insider Ngai Hang Victor Chong purchased 36,500 shares of Clearside Biomedical stock in a transaction dated Friday, November 1st. The stock was purchased at an average price of $1.00 per share, with a total value of $36,500.00. Following the transaction, the insider now directly owns 100,000 shares of the company’s stock, valued at $100,000. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 9.20% of the company’s stock.

Institutional Investors Weigh In On Clearside Biomedical

Hedge funds and other institutional investors have recently modified their holdings of the stock. SG Americas Securities LLC purchased a new stake in Clearside Biomedical in the first quarter worth about $49,000. XTX Topco Ltd increased its holdings in Clearside Biomedical by 172.2% in the 2nd quarter. XTX Topco Ltd now owns 54,313 shares of the company’s stock worth $71,000 after acquiring an additional 34,359 shares in the last quarter. Johnson & Johnson purchased a new stake in Clearside Biomedical in the 3rd quarter worth approximately $105,000. Assenagon Asset Management S.A. bought a new stake in Clearside Biomedical during the 2nd quarter worth approximately $368,000. Finally, Renaissance Technologies LLC boosted its position in shares of Clearside Biomedical by 6.6% in the second quarter. Renaissance Technologies LLC now owns 582,689 shares of the company’s stock worth $757,000 after purchasing an additional 35,900 shares during the period. 18.75% of the stock is currently owned by hedge funds and other institutional investors.

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.