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

Shares of Clearside Biomedical, Inc. (NASDAQ:CLSD) have been given an average recommendation of “Buy” by the six research firms that are presently covering the stock, Marketbeat.com reports. Six investment analysts have rated the stock with a buy recommendation. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $5.33.

A number of equities analysts recently commented on CLSD shares. Chardan Capital reaffirmed a “buy” rating and set a $6.00 price target on shares of Clearside Biomedical in a research report on Friday, November 15th. HC Wainwright reaffirmed a “buy” rating and set a $6.00 price target on shares of Clearside Biomedical in a research report on Thursday. Needham & Company LLC reaffirmed a “buy” rating and set a $6.00 price target on shares of Clearside Biomedical in a research report on Thursday. Finally, StockNews.com raised shares of Clearside Biomedical from a “sell” rating to a “hold” rating in a research report on Thursday, December 12th.

Hedge Funds Weigh In On Clearside Biomedical

Hedge funds have recently bought and sold shares of the company. Investor s Fiduciary Advisor Network LLC bought a new position in Clearside Biomedical in the 4th quarter valued at about $32,000. Johnson & Johnson bought a new position in Clearside Biomedical in the 3rd quarter valued at about $105,000. Northern Trust Corp increased its holdings in Clearside Biomedical by 24.0% in the 4th 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 during the period. Finally, Geode Capital Management LLC increased its holdings in Clearside Biomedical by 4.5% in the 4th 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. 18.75% of the stock is owned by institutional investors.

Clearside Biomedical Price Performance

Shares of CLSD opened at $0.93 on Friday. The firm has a market capitalization of $70.37 million, a PE ratio of -2.06 and a beta of 2.10. The company’s 50-day moving average is $0.96 and its 200-day moving average is $1.06. Clearside Biomedical has a fifty-two week low of $0.77 and a fifty-two week high of $2.12.

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.