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

Shares of Clearside Biomedical, Inc. (NASDAQ:CLSD) have been assigned an average rating of “Buy” from the six ratings firms that are presently covering the company, MarketBeat.com reports. Six equities research analysts have rated the stock with a buy recommendation. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $5.33.

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

Clearside Biomedical Stock Down 1.0 %

CLSD stock opened at $1.01 on Tuesday. The business’s 50-day moving average price is $1.11 and its 200-day moving average price is $1.15. The stock has a market cap of $76.60 million, a P/E ratio of -2.24 and a beta of 2.29. Clearside Biomedical has a twelve month low of $0.92 and a twelve month high of $2.12.

Clearside Biomedical (NASDAQ:CLSD) last issued its earnings results on Tuesday, November 12th. The company reported ($0.10) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.14) by $0.04. The business had revenue of $1.04 million for the quarter, compared to the consensus estimate of $0.25 million. During the same period last year, the business posted ($0.15) EPS. On average, equities research analysts expect that Clearside Biomedical will post -0.48 earnings per share for the current fiscal year.

Insider Transactions at Clearside Biomedical

In related news, insider Ngai Hang Victor Chong purchased 36,500 shares of the business’s stock in a transaction dated Friday, November 1st. The shares were purchased at an average cost of $1.00 per share, for a total transaction of $36,500.00. Following the completion of the acquisition, the insider now owns 100,000 shares in the company, valued at approximately $100,000. This trade represents a 57.48 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 9.20% of the company’s stock.

Hedge Funds Weigh In On Clearside Biomedical

Hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in shares of Clearside Biomedical by 14.5% during 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. Geode Capital Management LLC increased its holdings in 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 during the period. Renaissance Technologies LLC raised 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 in the last quarter. Assenagon Asset Management S.A. purchased a new stake in shares of Clearside Biomedical in the 2nd quarter worth $368,000. Finally, Johnson & Johnson bought a new position in shares of Clearside Biomedical during the 3rd quarter worth $105,000. 18.75% of the stock is currently owned by institutional investors.

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.