Clearside Biomedical (NASDAQ:CLSD) Stock Rating Upgraded by StockNews.com

Clearside Biomedical (NASDAQ:CLSD) was upgraded by stock analysts at StockNews.com from a “sell” rating to a “hold” rating in a report released on Friday.

A number of other research analysts also recently commented on CLSD. HC Wainwright reiterated a “buy” rating and set a $5.00 target price on shares of Clearside Biomedical in a research report on Tuesday, August 27th. Chardan Capital reiterated a “buy” rating and set a $6.00 target price on shares of Clearside Biomedical in a research report on Monday, October 14th. Oppenheimer started coverage on Clearside Biomedical in a research report on Tuesday, June 25th. They set an “outperform” rating and a $5.00 target price for the company. Finally, Needham & Company LLC raised their price target on Clearside Biomedical from $4.00 to $6.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $5.17.

Clearside Biomedical Price Performance

Shares of CLSD opened at $1.15 on Friday. Clearside Biomedical has a 1 year low of $0.65 and a 1 year high of $2.12. The company has a 50 day simple moving average of $1.16 and a two-hundred day simple moving average of $1.22. The firm has a market cap of $85.94 million, a P/E ratio of -2.09 and a beta of 2.35.

Clearside Biomedical (NASDAQ:CLSD) last posted its earnings results on Monday, August 12th. The company reported ($0.10) EPS for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.04. The firm had revenue of $0.09 million for the quarter, compared to the consensus estimate of $0.25 million. During the same quarter in the prior year, the company posted ($0.15) earnings per share. On average, sell-side analysts anticipate that Clearside Biomedical will post -0.56 earnings per share for the current year.

Institutional Trading of Clearside Biomedical

Several institutional investors and hedge funds have recently made changes to their positions in CLSD. Vanguard Group Inc. grew its stake in Clearside Biomedical by 14.5% in the first quarter. Vanguard Group Inc. now owns 2,490,796 shares of the company’s stock valued at $3,811,000 after purchasing an additional 314,480 shares during the last quarter. Assenagon Asset Management S.A. acquired a new stake in shares of Clearside Biomedical during the second quarter worth about $368,000. International Assets Investment Management LLC acquired a new position in Clearside Biomedical in the first quarter valued at approximately $57,000. Renaissance Technologies LLC lifted its holdings in Clearside Biomedical by 6.6% in the second quarter. Renaissance Technologies LLC now owns 582,689 shares of the company’s stock valued at $757,000 after acquiring an additional 35,900 shares during the period. Finally, XTX Topco Ltd lifted its holdings 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 acquiring an additional 34,359 shares during the period. 18.75% of the stock is currently 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.