Clearside Biomedical (NASDAQ:CLSD) Earns “Buy” Rating from Chardan Capital

Clearside Biomedical (NASDAQ:CLSD)‘s stock had its “buy” rating reaffirmed by stock analysts at Chardan Capital in a research note issued on Friday,Benzinga reports. They presently have a $6.00 price objective on the stock.

Other equities research analysts have also recently issued research reports about the stock. StockNews.com cut shares of Clearside Biomedical from a “hold” rating to a “sell” rating in a research note on Tuesday, March 18th. HC Wainwright reissued a “buy” rating and issued a $6.00 target price on shares of Clearside Biomedical in a research note on Thursday, March 6th. Finally, Needham & Company LLC reduced their price target on Clearside Biomedical from $6.00 to $4.00 and set a “buy” rating on the stock in a research report on Friday. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Clearside Biomedical presently has a consensus rating of “Moderate Buy” and a consensus price target of $5.25.

Clearside Biomedical Trading Down 7.8 %

Clearside Biomedical stock opened at $0.95 on Friday. The firm has a market capitalization of $72.05 million, a PE ratio of -2.11 and a beta of 2.10. Clearside Biomedical has a 1-year low of $0.77 and a 1-year high of $1.65. The firm’s 50 day simple moving average is $0.96 and its 200 day simple moving average is $1.05.

Clearside Biomedical (NASDAQ:CLSD) last released its quarterly earnings results on Thursday, March 27th. The company reported ($0.10) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.03. The firm had revenue of $0.31 million for the quarter, compared to analysts’ expectations of $0.27 million. Research analysts forecast that Clearside Biomedical will post -0.48 earnings per share for the current year.

Hedge Funds Weigh In On Clearside Biomedical

A number of hedge funds have recently modified their holdings of CLSD. Geode Capital Management LLC grew 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 purchasing an additional 59,089 shares during the last quarter. Northern Trust Corp lifted its holdings in Clearside Biomedical by 24.0% in 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 during the period. Finally, Investor s Fiduciary Advisor Network LLC bought a new stake in shares of Clearside Biomedical in the 4th quarter worth approximately $32,000. Hedge funds and other 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.