Clearside Biomedical (NASDAQ:CLSD) Now Covered by Oppenheimer

Equities researchers at Oppenheimer initiated coverage on shares of Clearside Biomedical (NASDAQ:CLSD) in a research note issued to investors on Tuesday, Marketbeat Ratings reports. The brokerage set an “outperform” rating and a $5.00 price target on the stock. Oppenheimer’s price objective suggests a potential upside of 313.22% from the company’s current price.

Several other equities research analysts have also recently issued reports on the stock. HC Wainwright lowered their price objective on shares of Clearside Biomedical from $6.00 to $5.00 and set a “buy” rating for the company in a research report on Monday, May 13th. StockNews.com lowered Clearside Biomedical from a “hold” rating to a “sell” rating in a research report on Friday, May 10th. JMP Securities reissued a “market outperform” rating and set a $5.00 price target on shares of Clearside Biomedical in a research report on Wednesday, March 13th. Wedbush restated an “outperform” rating and issued a $4.00 price objective (down from $5.00) on shares of Clearside Biomedical in a report on Wednesday, March 13th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $4.00 target price on shares of Clearside Biomedical in a report on Monday, May 13th. One equities research analyst has rated the stock with a sell rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $4.60.

Clearside Biomedical Trading Down 3.2 %

Shares of CLSD opened at $1.21 on Tuesday. The company has a market cap of $90.42 million, a P/E ratio of -2.20 and a beta of 2.36. Clearside Biomedical has a twelve month low of $0.65 and a twelve month high of $2.12. The company’s fifty day simple moving average is $1.28 and its 200-day simple moving average is $1.33.

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

Hedge Funds Weigh In On Clearside Biomedical

A number of large investors have recently added to or reduced their stakes in the company. Rosalind Advisors Inc. purchased a new position in shares of Clearside Biomedical in the 1st quarter worth approximately $3,967,000. Vanguard Group Inc. grew its holdings in Clearside Biomedical by 14.5% in the first quarter. Vanguard Group Inc. now owns 2,490,796 shares of the company’s stock worth $3,811,000 after purchasing an additional 314,480 shares during the last quarter. International Assets Investment Management LLC acquired a new position in shares of Clearside Biomedical during the first quarter worth $57,000. Finally, SG Americas Securities LLC purchased a new stake in shares of Clearside Biomedical during the 1st quarter valued at $49,000. 18.75% of the stock is currently owned by 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.