Analysts Set Clearside Biomedical, Inc. (NASDAQ:CLSD) Target Price at $5.33

Shares of Clearside Biomedical, Inc. (NASDAQ:CLSD) have received a consensus recommendation of “Buy” from the six brokerages that are currently covering the stock, Marketbeat reports. Six equities research analysts have rated the stock with a buy recommendation. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $5.33.

Several research firms recently commented on CLSD. Chardan Capital restated a “buy” rating and issued a $6.00 price target on shares of Clearside Biomedical in a report on Friday, November 15th. Needham & Company LLC reaffirmed a “buy” rating and set a $6.00 price target on shares of Clearside Biomedical in a research report on Wednesday, November 13th. StockNews.com upgraded Clearside Biomedical from a “sell” rating to a “hold” rating in a report on Thursday, December 12th. Finally, HC Wainwright restated a “buy” rating and set a $6.00 price objective on shares of Clearside Biomedical in a research note on Thursday, November 14th.

Insiders Place Their Bets

In related news, insider Ngai Hang Victor Chong purchased 36,500 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The shares were purchased at an average cost of $1.00 per share, with a total value of $36,500.00. Following the completion of the acquisition, the insider now directly owns 100,000 shares of the company’s stock, valued at approximately $100,000. The trade was a 57.48 % increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 9.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Clearside Biomedical

A number of institutional investors have recently modified their holdings of CLSD. Geode Capital Management LLC raised its holdings in shares of Clearside Biomedical by 8.8% during the third 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 during the period. XTX Topco Ltd raised its position 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 during the period. Renaissance Technologies LLC boosted its position in 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 period. Finally, Johnson & Johnson bought a new position in Clearside Biomedical during the 3rd quarter worth $105,000. Institutional investors and hedge funds own 18.75% of the company’s stock.

Clearside Biomedical Stock Down 5.1 %

NASDAQ:CLSD opened at $0.93 on Friday. Clearside Biomedical has a fifty-two week low of $0.80 and a fifty-two week high of $2.12. The firm’s 50 day moving average is $1.01 and its two-hundred day moving average is $1.11. The company has a market cap of $70.50 million, a P/E ratio of -2.07 and a beta of 2.20.

Clearside Biomedical (NASDAQ:CLSD) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.10) EPS for the quarter, topping the consensus estimate of ($0.14) by $0.04. The firm had revenue of $1.04 million for the quarter, compared to analyst estimates of $0.25 million. During the same quarter in the prior year, the company earned ($0.15) earnings per share. Research analysts forecast that Clearside Biomedical will post -0.48 earnings per share 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.