HC Wainwright Reiterates “Buy” Rating for Clearside Biomedical (NASDAQ:CLSD)

Clearside Biomedical (NASDAQ:CLSD)‘s stock had its “buy” rating reiterated by analysts at HC Wainwright in a report issued on Thursday,Benzinga reports. They presently have a $6.00 price objective on the stock.

A number of other research firms also recently issued reports on CLSD. Needham & Company LLC reiterated a “buy” rating and set a $6.00 price target on shares of Clearside Biomedical in a research note on Thursday. Chardan Capital reiterated a “buy” rating and set a $6.00 price target on shares of Clearside Biomedical in a research note on Friday, November 15th. Finally, StockNews.com upgraded Clearside Biomedical from a “sell” rating to a “hold” rating in a research note on Thursday, December 12th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, Clearside Biomedical currently has a consensus rating of “Moderate Buy” and an average price target of $5.33.

Clearside Biomedical Stock Performance

CLSD stock opened at $0.93 on Thursday. The company has a market capitalization of $70.37 million, a P/E ratio of -2.06 and a beta of 2.10. Clearside Biomedical has a 52-week low of $0.77 and a 52-week high of $2.12. The business has a 50-day simple moving average of $0.96 and a two-hundred day simple moving average of $1.05.

Hedge Funds Weigh In On Clearside Biomedical

Several hedge funds have recently modified their holdings of CLSD. Johnson & Johnson bought a new position in shares of Clearside Biomedical during the 3rd quarter worth approximately $105,000. Geode Capital Management LLC lifted its position in shares of Clearside Biomedical by 8.8% during the 3rd 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 in the last quarter. Northern Trust Corp lifted its position in shares of Clearside Biomedical by 24.0% during the 4th quarter. Northern Trust Corp now owns 165,499 shares of the company’s stock worth $157,000 after buying an additional 32,048 shares in the last quarter. Finally, Investor s Fiduciary Advisor Network LLC bought a new position in shares of Clearside Biomedical during the 4th quarter worth approximately $32,000. Institutional investors own 18.75% of the company’s stock.

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.