Clearside Biomedical’s (CLSD) Buy Rating Reaffirmed at HC Wainwright

HC Wainwright restated their buy rating on shares of Clearside Biomedical (NASDAQ:CLSD) in a research note published on Thursday morning,Benzinga reports. The firm currently has a $6.00 target price on the stock.

A number of other brokerages also recently weighed in on CLSD. Needham & Company LLC restated a “buy” rating and issued a $6.00 target price on shares of Clearside Biomedical in a research note on Wednesday, November 13th. Chardan Capital restated a “buy” rating and issued a $6.00 price objective on shares of Clearside Biomedical in a research note on Monday, October 14th. Finally, StockNews.com lowered Clearside Biomedical from a “hold” rating to a “sell” rating in a research report on Friday, November 8th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $5.33.

Clearside Biomedical Price Performance

Shares of NASDAQ CLSD opened at $0.99 on Thursday. The company has a 50-day moving average price of $1.19 and a 200-day moving average price of $1.19. The stock has a market capitalization of $75.08 million, a P/E ratio of -2.20 and a beta of 2.33. Clearside Biomedical has a 1 year low of $0.90 and a 1 year high of $2.12.

Clearside Biomedical (NASDAQ:CLSD) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.10) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.04. The company had revenue of $1.04 million for the quarter, compared to analyst estimates of $0.25 million. During the same quarter last year, the firm posted ($0.15) EPS. As a group, equities research analysts anticipate that Clearside Biomedical will post -0.51 earnings per share for the current fiscal year.

Insider Activity

In other Clearside Biomedical news, insider Ngai Hang Victor Chong purchased 36,500 shares of the stock in a transaction dated Friday, November 1st. The shares were bought at an average price of $1.00 per share, with a total value of $36,500.00. Following the completion of the transaction, the insider now directly owns 100,000 shares in the company, valued at approximately $100,000. This trade represents a 57.48 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 9.20% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. Geode Capital Management LLC lifted its position in shares of Clearside Biomedical by 8.8% during the third quarter. Geode Capital Management LLC now owns 731,386 shares of the company’s stock worth $929,000 after acquiring an additional 59,089 shares in the last quarter. Johnson & Johnson bought a new stake in shares of Clearside Biomedical during the 3rd quarter valued at $105,000. XTX Topco Ltd lifted its holdings in Clearside Biomedical by 172.2% during the 2nd quarter. XTX Topco Ltd now owns 54,313 shares of the company’s stock worth $71,000 after purchasing an additional 34,359 shares in the last quarter. Renaissance Technologies LLC boosted its stake in 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 purchasing an additional 35,900 shares during the period. Finally, Assenagon Asset Management S.A. purchased a new position in Clearside Biomedical during the 2nd quarter valued at about $368,000. 18.75% of the stock is 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.