Clearside Biomedical, Inc. (NASDAQ:CLSD) Receives $4.60 Consensus Target Price from Brokerages

Shares of Clearside Biomedical, Inc. (NASDAQ:CLSD) have received an average rating of “Buy” from the five ratings firms that are currently covering the company, MarketBeat Ratings reports. Five analysts have rated the stock with a buy recommendation. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $4.60.

CLSD has been the subject of several recent research reports. HC Wainwright lowered their target price on shares of Clearside Biomedical from $6.00 to $5.00 and set a “buy” rating for the company in a research note on Monday, May 13th. Oppenheimer assumed coverage on shares of Clearside Biomedical in a research report on Tuesday. They set an “outperform” rating and a $5.00 price target for the company. Wedbush restated an “outperform” rating and set a $4.00 price target (down previously from $5.00) on shares of Clearside Biomedical in a research report on Wednesday, March 13th. Needham & Company LLC restated a “buy” rating and set a $4.00 price target on shares of Clearside Biomedical in a research report on Monday, May 13th. Finally, JMP Securities restated a “market outperform” rating and set a $5.00 price target on shares of Clearside Biomedical in a research report on Wednesday, March 13th.

Institutional Investors Weigh In On Clearside Biomedical

Institutional investors have recently bought and sold shares of the stock. Rosalind Advisors Inc. acquired a new stake in Clearside Biomedical in the 1st quarter valued at about $3,967,000. Vanguard Group Inc. lifted its holdings in Clearside Biomedical by 14.5% in the 1st quarter. Vanguard Group Inc. now owns 2,490,796 shares of the company’s stock valued at $3,811,000 after acquiring an additional 314,480 shares during the last quarter. International Assets Investment Management LLC acquired a new stake in Clearside Biomedical in the 1st quarter valued at about $57,000. Finally, SG Americas Securities LLC acquired a new stake in Clearside Biomedical in the 1st quarter valued at about $49,000. Institutional investors and hedge funds own 18.75% of the company’s stock.

Clearside Biomedical Price Performance

CLSD opened at $1.28 on Tuesday. The stock has a market capitalization of $95.65 million, a PE ratio of -2.33 and a beta of 2.36. The firm’s fifty day moving average price is $1.28 and its 200 day moving average price is $1.33. Clearside Biomedical has a 12-month low of $0.65 and a 12-month high of $2.12.

Clearside Biomedical (NASDAQ:CLSD) last released its earnings results on Thursday, May 9th. The company reported ($0.17) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($0.03). The business had revenue of $0.23 million for the quarter, compared to analysts’ expectations of $0.98 million. During the same period last year, the firm posted ($0.15) EPS. On average, equities research analysts forecast that Clearside Biomedical will post -0.63 earnings per share for the current fiscal year.

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.