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

Shares of Clearside Biomedical, Inc. (NASDAQ:CLSD) have been assigned an average recommendation of “Buy” from the six ratings firms that are currently covering the company, Marketbeat.com reports. Six equities research analysts have rated the stock with a buy rating. The average 1-year target price among analysts that have issued a report on the stock in the last year is $5.33.

A number of equities research analysts have recently issued reports on CLSD shares. Chardan Capital reissued a “buy” rating and issued a $6.00 price target on shares of Clearside Biomedical in a report on Friday, November 15th. StockNews.com upgraded shares of Clearside Biomedical from a “sell” rating to a “hold” rating in a research note on Thursday, December 12th. Needham & Company LLC restated a “buy” rating and set a $6.00 price target on shares of Clearside Biomedical in a research report on Wednesday, November 13th. Finally, HC Wainwright reiterated a “buy” rating and issued a $6.00 price objective on shares of Clearside Biomedical in a research report on Thursday, November 14th.

Insider Transactions at Clearside Biomedical

In other news, insider Ngai Hang Victor Chong bought 36,500 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The stock was bought at an average price of $1.00 per share, for a total transaction of $36,500.00. Following the transaction, the insider now directly owns 100,000 shares of the company’s stock, valued at $100,000. This represents a 57.48 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 9.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. XTX Topco Ltd grew its position 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 acquiring an additional 34,359 shares during the last quarter. Johnson & Johnson purchased a new stake in shares of Clearside Biomedical during the third quarter valued at approximately $105,000. Renaissance Technologies LLC grew its holdings in shares of Clearside Biomedical by 6.6% in the second 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 last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Clearside Biomedical by 8.8% in the third quarter. Geode Capital Management LLC now owns 731,386 shares of the company’s stock worth $929,000 after buying an additional 59,089 shares during the period. 18.75% of the stock is currently owned by institutional investors.

Clearside Biomedical Trading Up 0.7 %

Clearside Biomedical stock opened at $0.98 on Friday. The firm has a 50 day simple moving average of $1.02 and a 200 day simple moving average of $1.11. Clearside Biomedical has a 1-year low of $0.80 and a 1-year high of $2.12. The firm has a market capitalization of $74.33 million, a price-to-earnings ratio of -2.18 and a beta of 2.20.

Clearside Biomedical (NASDAQ:CLSD) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.10) earnings per share for the quarter, beating the consensus estimate of ($0.14) by $0.04. The company had revenue of $1.04 million during the quarter, compared to analysts’ expectations of $0.25 million. During the same quarter last year, the firm posted ($0.15) earnings per share. On average, equities research analysts forecast that Clearside Biomedical will post -0.48 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.