Chardan Capital Reiterates Buy Rating for Clearside Biomedical (NASDAQ:CLSD)

Chardan Capital restated their buy rating on shares of Clearside Biomedical (NASDAQ:CLSD) in a research report released on Friday morning,Benzinga reports. The brokerage currently has a $6.00 target price on the stock.

Other research analysts have also issued reports about the company. HC Wainwright reiterated a “buy” rating and issued a $6.00 price objective on shares of Clearside Biomedical in a research report on Thursday, November 14th. Needham & Company LLC reiterated a “buy” rating and issued a $6.00 price objective on shares of Clearside Biomedical in a research report on Wednesday, November 13th. Finally, StockNews.com lowered Clearside Biomedical from a “hold” rating to a “sell” rating in a research report on Friday, November 8th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $5.33.

Clearside Biomedical Price Performance

CLSD stock opened at $1.02 on Friday. The business has a fifty day moving average price of $1.19 and a 200 day moving average price of $1.19. Clearside Biomedical has a fifty-two week low of $0.92 and a fifty-two week high of $2.12. The stock has a market capitalization of $77.36 million, a price-to-earnings ratio of -2.22 and a beta of 2.33.

Clearside Biomedical (NASDAQ:CLSD) last announced its earnings results on Tuesday, November 12th. The company reported ($0.10) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.04. The business had revenue of $1.04 million during the quarter, compared to analyst estimates of $0.25 million. During the same quarter last year, the business posted ($0.15) earnings per share. On average, equities analysts expect that Clearside Biomedical will post -0.51 earnings per share for the current fiscal year.

Insider Transactions at Clearside Biomedical

In other Clearside Biomedical news, insider Ngai Hang Victor Chong acquired 36,500 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The stock was acquired at an average cost of $1.00 per share, for a total transaction of $36,500.00. Following the transaction, the insider now owns 100,000 shares of the company’s stock, valued at $100,000. This trade represents a 57.48 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 9.20% of the company’s stock.

Hedge Funds Weigh In On Clearside Biomedical

Several institutional investors and hedge funds have recently modified their holdings of the business. SG Americas Securities LLC bought a new stake in shares of Clearside Biomedical during the 1st quarter worth approximately $49,000. XTX Topco Ltd raised its stake 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 worth $71,000 after purchasing an additional 34,359 shares in the last quarter. Renaissance Technologies LLC raised its stake 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 worth $757,000 after purchasing an additional 35,900 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Clearside Biomedical by 8.8% during the 3rd quarter. Geode Capital Management LLC now owns 731,386 shares of the company’s stock worth $929,000 after purchasing an additional 59,089 shares in the last quarter. Finally, Johnson & Johnson bought a new stake in shares of Clearside Biomedical during the 3rd quarter worth approximately $105,000. 18.75% of the stock is currently owned by institutional investors and hedge funds.

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.