Clearside Biomedical (NASDAQ:CLSD) Upgraded to “Hold” by StockNews.com

StockNews.com upgraded shares of Clearside Biomedical (NASDAQ:CLSD) from a sell rating to a hold rating in a research report sent to investors on Friday morning.

CLSD has been the subject of several other reports. HC Wainwright reiterated a “buy” rating and set a $5.00 target price on shares of Clearside Biomedical in a research note on Tuesday, August 27th. Chardan Capital reiterated a “buy” rating and set a $6.00 target price on shares of Clearside Biomedical in a research note on Monday, October 14th. Needham & Company LLC raised their price objective on Clearside Biomedical from $4.00 to $6.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Finally, Oppenheimer began coverage on Clearside Biomedical in a research note on Tuesday, June 25th. They set an “outperform” rating and a $5.00 price objective on the stock. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $5.17.

Clearside Biomedical Stock Up 14.8 %

Shares of NASDAQ:CLSD opened at $1.32 on Friday. Clearside Biomedical has a 52-week low of $0.65 and a 52-week high of $2.12. The company has a 50 day moving average of $1.16 and a two-hundred day moving average of $1.21. The company has a market capitalization of $98.64 million, a price-to-earnings ratio of -2.40 and a beta of 2.35.

Clearside Biomedical (NASDAQ:CLSD) last issued its quarterly earnings data on Monday, August 12th. The company reported ($0.10) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.14) by $0.04. The firm had revenue of $0.09 million during the quarter, compared to analyst estimates of $0.25 million. During the same period last year, the business earned ($0.15) EPS. On average, equities analysts anticipate that Clearside Biomedical will post -0.56 earnings per share for the current year.

Institutional Investors Weigh In On Clearside Biomedical

Several large investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC acquired a new stake in Clearside Biomedical in the first quarter worth $49,000. XTX Topco Ltd increased its holdings in shares of Clearside Biomedical by 172.2% during the second quarter. XTX Topco Ltd now owns 54,313 shares of the company’s stock valued at $71,000 after purchasing an additional 34,359 shares during the period. Renaissance Technologies LLC increased its holdings in shares of Clearside Biomedical by 6.6% during the second 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. International Assets Investment Management LLC acquired a new position in shares of Clearside Biomedical during the first quarter valued at $57,000. Finally, Assenagon Asset Management S.A. acquired a new position in shares of Clearside Biomedical during the second quarter valued at $368,000. 18.75% of the stock is owned by institutional investors and hedge funds.

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.