Clearside Biomedical, Inc. (NASDAQ:CLSD) Receives $5.17 Consensus Price Target from Analysts

Shares of Clearside Biomedical, Inc. (NASDAQ:CLSD) have been assigned an average recommendation of “Buy” from the six analysts that are covering the company, MarketBeat reports. Six investment analysts have rated the stock with a buy recommendation. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $5.17.

CLSD has been the subject of several research reports. Chardan Capital reiterated a “buy” rating and issued a $6.00 target price on shares of Clearside Biomedical in a research note on Monday, October 14th. HC Wainwright reiterated a “buy” rating and issued a $5.00 target price on shares of Clearside Biomedical in a research note on Tuesday, August 27th. StockNews.com upgraded shares of Clearside Biomedical from a “sell” rating to a “hold” rating in a research note on Friday, October 18th. Finally, Needham & Company LLC raised their price target on shares of Clearside Biomedical from $4.00 to $6.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th.

Clearside Biomedical Price Performance

Clearside Biomedical stock opened at $1.04 on Monday. The firm has a fifty day moving average price of $1.17 and a two-hundred day moving average price of $1.21. The firm has a market cap of $77.72 million, a price-to-earnings ratio of -1.91 and a beta of 2.35. Clearside Biomedical has a fifty-two week low of $0.69 and a fifty-two week high of $2.12.

Clearside Biomedical (NASDAQ:CLSD) last released its earnings results on Monday, August 12th. The company reported ($0.10) EPS for the quarter, beating the consensus estimate of ($0.14) by $0.04. The company had revenue of $0.09 million for the quarter, compared to analyst estimates of $0.25 million. During the same quarter in the previous year, the company earned ($0.15) earnings per share. As a group, sell-side analysts expect that Clearside Biomedical will post -0.56 earnings per share for the current year.

Institutional Trading of Clearside Biomedical

Several hedge funds have recently modified their holdings of CLSD. SG Americas Securities LLC acquired a new stake in shares of Clearside Biomedical in the first quarter valued at approximately $49,000. XTX Topco Ltd increased its holdings in shares of Clearside Biomedical by 172.2% in 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 in the last quarter. Assenagon Asset Management S.A. acquired a new stake in shares of Clearside Biomedical in the second quarter valued at approximately $368,000. Renaissance Technologies LLC increased its holdings in shares of Clearside Biomedical by 6.6% in 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 in the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of Clearside Biomedical by 14.5% in the first quarter. Vanguard Group Inc. now owns 2,490,796 shares of the company’s stock valued at $3,811,000 after purchasing an additional 314,480 shares in the last quarter. Institutional investors and hedge funds own 18.75% of the company’s stock.

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.