Clearside Biomedical, Inc. (NASDAQ:CLSD) Receives $5.33 Average PT from Analysts

Clearside Biomedical, Inc. (NASDAQ:CLSD) has received an average rating of “Buy” from the six ratings firms that are covering the stock, MarketBeat reports. Six investment analysts have rated the stock with a buy recommendation. The average twelve-month price target among brokers that have covered the stock in the last year is $5.33.

CLSD has been the topic of a number of research analyst reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $6.00 target price on shares of Clearside Biomedical in a report on Wednesday, November 13th. HC Wainwright reiterated a “buy” rating and issued a $6.00 target price on shares of Clearside Biomedical in a research note on Thursday, November 14th. Chardan Capital reaffirmed a “buy” rating and issued a $6.00 price target on shares of Clearside Biomedical in a report on Friday, November 15th. Finally, StockNews.com raised Clearside Biomedical from a “sell” rating to a “hold” rating in a report on Saturday, November 16th.

Clearside Biomedical Price Performance

Shares of Clearside Biomedical stock opened at $1.08 on Friday. Clearside Biomedical has a 12-month low of $0.92 and a 12-month high of $2.12. The stock has a 50 day moving average price of $1.16 and a two-hundred day moving average price of $1.17. The stock has a market capitalization of $81.91 million, a P/E ratio of -2.40 and a beta of 2.33.

Clearside Biomedical (NASDAQ:CLSD) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.10) earnings per share (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 the consensus estimate of $0.25 million. During the same period in the prior year, the company posted ($0.15) earnings per share. Sell-side analysts anticipate that Clearside Biomedical will post -0.48 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Ngai Hang Victor Chong purchased 36,500 shares of the stock in a transaction on 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 transaction, 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 9.20% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in CLSD. SG Americas Securities LLC bought a new stake in shares of Clearside Biomedical in the 1st quarter worth about $49,000. XTX Topco Ltd boosted its position in 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 buying an additional 34,359 shares in the last quarter. Renaissance Technologies LLC grew its stake in Clearside Biomedical by 6.6% during the second quarter. Renaissance Technologies LLC now owns 582,689 shares of the company’s stock worth $757,000 after buying an additional 35,900 shares during the last quarter. Geode Capital Management LLC increased 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 buying an additional 59,089 shares in the last quarter. Finally, Johnson & Johnson bought a new position in shares of Clearside Biomedical in the third quarter valued at approximately $105,000. 18.75% of the stock is 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.