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

Clearside Biomedical, Inc. (NASDAQ:CLSD) has been given a consensus recommendation of “Buy” by the five analysts that are covering the firm, MarketBeat reports. Five equities research analysts have rated the stock with a buy rating. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $4.60.

A number of research firms recently commented on CLSD. HC Wainwright decreased their price objective on Clearside Biomedical from $6.00 to $5.00 and set a “buy” rating on the stock in a report on Monday, May 13th. Needham & Company LLC reiterated a “buy” rating and issued a $4.00 price objective on shares of Clearside Biomedical in a report on Monday, May 13th. StockNews.com cut Clearside Biomedical from a “hold” rating to a “sell” rating in a report on Friday, May 10th. Finally, Oppenheimer began coverage on Clearside Biomedical in a report on Tuesday, June 25th. They issued an “outperform” rating and a $5.00 price objective on the stock.

Institutional Trading of Clearside Biomedical

Several hedge funds have recently modified their holdings of CLSD. SG Americas Securities LLC acquired a new stake in shares of Clearside Biomedical in the first quarter valued at $49,000. International Assets Investment Management LLC acquired a new stake in shares of Clearside Biomedical in the first quarter valued at $57,000. Assenagon Asset Management S.A. acquired a new stake in shares of Clearside Biomedical in the second quarter valued at $368,000. Vanguard Group Inc. raised its stake in shares of Clearside Biomedical by 14.5% in the first quarter. Vanguard Group Inc. now owns 2,490,796 shares of the company’s stock valued at $3,811,000 after acquiring an additional 314,480 shares in the last quarter. Finally, Rosalind Advisors Inc. acquired a new stake in Clearside Biomedical in the first quarter valued at $3,967,000. 18.75% of the stock is currently owned by institutional investors and hedge funds.

Clearside Biomedical Stock Performance

NASDAQ:CLSD opened at $1.15 on Friday. Clearside Biomedical has a 12 month low of $0.65 and a 12 month high of $2.12. The stock has a 50 day moving average of $1.25 and a two-hundred day moving average of $1.34. The firm has a market cap of $85.94 million, a P/E ratio of -2.09 and a beta of 2.43.

Clearside Biomedical (NASDAQ:CLSD) last issued its earnings results on Thursday, May 9th. The company reported ($0.17) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($0.03). The firm had revenue of $0.23 million during the quarter, compared to analyst estimates of $0.98 million. During the same quarter in the prior year, the company posted ($0.15) EPS. On average, research analysts forecast that Clearside Biomedical will post -0.63 earnings per share for the current 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.