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

Shares of Clearside Biomedical, Inc. (NASDAQ:CLSD) have been given an average rating of “Buy” by the six ratings firms that are covering the company, MarketBeat Ratings reports. Six equities research analysts have rated the stock with a buy recommendation. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $5.33.

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

Institutional Trading of Clearside Biomedical

A number of institutional investors and hedge funds have recently made changes to their positions in CLSD. Investor s Fiduciary Advisor Network LLC purchased a new stake in shares of Clearside Biomedical in the fourth quarter valued at approximately $32,000. Johnson & Johnson purchased a new stake in shares of Clearside Biomedical in the third quarter valued at approximately $105,000. Northern Trust Corp increased its position in shares of Clearside Biomedical by 24.0% in the fourth quarter. Northern Trust Corp now owns 165,499 shares of the company’s stock valued at $157,000 after buying an additional 32,048 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Clearside Biomedical by 4.5% during the fourth quarter. Geode Capital Management LLC now owns 764,058 shares of the company’s stock worth $726,000 after purchasing an additional 32,672 shares in the last quarter. 18.75% of the stock is currently owned by hedge funds and other institutional investors.

Clearside Biomedical Stock Down 3.3 %

Clearside Biomedical stock opened at $0.86 on Friday. Clearside Biomedical has a 52 week low of $0.80 and a 52 week high of $2.12. The company has a market capitalization of $65.20 million, a price-to-earnings ratio of -1.91 and a beta of 2.22. The stock has a 50-day moving average price of $0.97 and a 200 day moving average price of $1.06.

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.