Needham & Company LLC Reiterates “Buy” Rating for Clearside Biomedical (NASDAQ:CLSD)

Clearside Biomedical (NASDAQ:CLSD)‘s stock had its “buy” rating reissued by Needham & Company LLC in a research note issued on Thursday,Benzinga reports. They currently have a $6.00 price target on the stock.

Several other equities research analysts also recently issued reports on the company. Chardan Capital reaffirmed a “buy” rating and set a $6.00 price target on shares of Clearside Biomedical in a report on Friday, November 15th. StockNews.com upgraded shares of Clearside Biomedical from a “sell” rating to a “hold” rating in a research note on Thursday, December 12th. Finally, HC Wainwright reiterated a “buy” rating and issued a $6.00 price target on shares of Clearside Biomedical in a research note on Thursday, November 14th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $5.33.

Clearside Biomedical Trading Up 12.9 %

NASDAQ:CLSD traded up $0.11 on Thursday, hitting $0.96. The company’s stock had a trading volume of 804,558 shares, compared to its average volume of 399,340. Clearside Biomedical has a one year low of $0.77 and a one year high of $2.12. The stock has a fifty day moving average of $0.96 and a two-hundred day moving average of $1.06. The firm has a market capitalization of $72.81 million, a P/E ratio of -2.13 and a beta of 2.10.

Hedge Funds Weigh In On Clearside Biomedical

A number of hedge funds have recently bought and sold shares of CLSD. Investor s Fiduciary Advisor Network LLC bought a new stake in Clearside Biomedical in the 4th quarter valued at about $32,000. Northern Trust Corp raised its position in shares of Clearside Biomedical by 24.0% in the fourth quarter. Northern Trust Corp now owns 165,499 shares of the company’s stock valued at $157,000 after buying an additional 32,048 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Clearside Biomedical by 4.5% in the fourth quarter. Geode Capital Management LLC now owns 764,058 shares of the company’s stock valued at $726,000 after buying an additional 32,672 shares during the period. Finally, Johnson & Johnson acquired a new stake in Clearside Biomedical during the third quarter worth approximately $105,000. 18.75% of the stock is 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.