Needham & Company LLC Reaffirms Buy Rating for Clearside Biomedical (NASDAQ:CLSD)

Clearside Biomedical (NASDAQ:CLSD)‘s stock had its “buy” rating reaffirmed by equities researchers at Needham & Company LLC in a research report issued on Thursday,Benzinga reports. They currently have a $6.00 price target on the stock.

A number of other research firms also recently issued reports on CLSD. Chardan Capital reaffirmed a “buy” rating and issued a $6.00 target price on shares of Clearside Biomedical in a research report on Friday, November 15th. StockNews.com raised Clearside Biomedical from a “sell” rating to a “hold” rating in a research report on Thursday, December 12th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $6.00 target price on shares of Clearside Biomedical in a research report on Thursday, November 14th. 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, Clearside Biomedical currently has a consensus rating of “Moderate Buy” and a consensus price target of $5.33.

Clearside Biomedical Price Performance

CLSD opened at $0.93 on Thursday. The business’s 50-day moving average price is $0.96 and its two-hundred day moving average price is $1.05. Clearside Biomedical has a 1 year low of $0.77 and a 1 year high of $2.12. The company has a market capitalization of $70.37 million, a price-to-earnings ratio of -2.06 and a beta of 2.10.

Hedge Funds Weigh In On Clearside Biomedical

Hedge funds and other institutional investors have recently bought and sold shares of the business. Investor s Fiduciary Advisor Network LLC bought a new position in Clearside Biomedical during the fourth quarter worth about $32,000. Johnson & Johnson bought a new position in Clearside Biomedical during the third quarter worth about $105,000. Northern Trust Corp grew its holdings in Clearside Biomedical by 24.0% during the fourth quarter. Northern Trust Corp now owns 165,499 shares of the company’s stock worth $157,000 after purchasing an additional 32,048 shares during the period. Finally, Geode Capital Management LLC grew its holdings in 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 purchasing an additional 59,089 shares during the period. Institutional investors own 18.75% of the company’s stock.

About Clearside Biomedical

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.