Clearside Biomedical, Inc. (NASDAQ:CLSD) Given Average Rating of “Buy” by Analysts

Clearside Biomedical, Inc. (NASDAQ:CLSD) has been given a consensus recommendation of “Buy” by the six brokerages that are presently covering the firm, MarketBeat reports. Six analysts have rated the stock with a buy rating. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $4.83.

CLSD has been the topic of a number of analyst reports. Needham & Company LLC restated a “buy” rating and issued a $4.00 price objective on shares of Clearside Biomedical in a report on Tuesday, August 13th. HC Wainwright reissued a “buy” rating and issued a $5.00 target price on shares of Clearside Biomedical in a report on Tuesday, August 27th. Oppenheimer started coverage on shares of Clearside Biomedical in a research report on Tuesday, June 25th. They set an “outperform” rating and a $5.00 target price on the stock. Finally, Chardan Capital assumed coverage on shares of Clearside Biomedical in a report on Wednesday, August 21st. They issued a “buy” rating and a $6.00 target price for the company.

Institutional Trading of Clearside Biomedical

Several institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings in shares of Clearside Biomedical by 14.5% during the first quarter. Vanguard Group Inc. now owns 2,490,796 shares of the company’s stock worth $3,811,000 after purchasing an additional 314,480 shares during the last quarter. Assenagon Asset Management S.A. acquired a new stake in Clearside Biomedical during the 2nd quarter valued at approximately $368,000. International Assets Investment Management LLC bought a new stake in shares of Clearside Biomedical in the 1st quarter worth about $57,000. Renaissance Technologies LLC grew its position in shares of Clearside Biomedical by 6.6% in the 2nd quarter. Renaissance Technologies LLC now owns 582,689 shares of the company’s stock worth $757,000 after acquiring an additional 35,900 shares in the last quarter. Finally, XTX Topco Ltd raised its holdings in shares of Clearside Biomedical by 172.2% during the second quarter. XTX Topco Ltd now owns 54,313 shares of the company’s stock worth $71,000 after purchasing an additional 34,359 shares during the period. Hedge funds and other institutional investors own 18.75% of the company’s stock.

Clearside Biomedical Price Performance

NASDAQ CLSD opened at $1.34 on Thursday. The firm’s 50-day moving average is $1.11 and its two-hundred day moving average is $1.24. The stock has a market capitalization of $100.14 million, a P/E ratio of -2.44 and a beta of 2.34. Clearside Biomedical has a 12 month low of $0.65 and a 12 month high of $2.12.

Clearside Biomedical (NASDAQ:CLSD) last issued its quarterly earnings results on Monday, August 12th. The company reported ($0.10) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.14) by $0.04. The business had revenue of $0.09 million for the quarter, compared to analyst estimates of $0.25 million. During the same period in the prior year, the company posted ($0.15) EPS. As a group, analysts anticipate that Clearside Biomedical will post -0.56 EPS for the current year.

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.