Chardan Capital Reiterates Buy Rating for Clearside Biomedical (NASDAQ:CLSD)

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

CLSD has been the subject of a number of other reports. HC Wainwright reissued a “buy” rating and issued a $6.00 price target on shares of Clearside Biomedical in a report on Thursday. StockNews.com lowered shares of Clearside Biomedical from a “hold” rating to a “sell” rating in a research report on Friday, November 8th. Finally, Needham & Company LLC reissued a “buy” rating and set a $6.00 target price on shares of Clearside Biomedical in a research report on Wednesday. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $5.33.

Clearside Biomedical Stock Performance

Clearside Biomedical stock opened at $0.99 on Friday. Clearside Biomedical has a 52 week low of $0.90 and a 52 week high of $2.12. The firm has a market capitalization of $75.08 million, a PE ratio of -2.20 and a beta of 2.33. The business’s 50-day simple moving average is $1.19 and its 200-day simple moving average is $1.19.

Clearside Biomedical (NASDAQ:CLSD) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.10) EPS for the quarter, topping the consensus estimate of ($0.14) by $0.04. The business had revenue of $1.04 million during the quarter, compared to the consensus estimate of $0.25 million. During the same period in the prior year, the firm earned ($0.15) earnings per share. Research analysts forecast that Clearside Biomedical will post -0.56 earnings per share for the current year.

Insider Transactions at Clearside Biomedical

In related news, insider Ngai Hang Victor Chong purchased 36,500 shares of the stock in a transaction on Friday, November 1st. The shares were purchased at an average cost of $1.00 per share, for a total transaction of $36,500.00. Following the completion of the transaction, the insider now directly owns 100,000 shares of the company’s stock, valued at approximately $100,000. The trade was a 57.48 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 9.20% of the stock is owned by insiders.

Institutional Trading of Clearside Biomedical

Hedge funds have recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of Clearside Biomedical by 14.5% during the first quarter. Vanguard Group Inc. now owns 2,490,796 shares of the company’s stock worth $3,811,000 after purchasing an additional 314,480 shares during the last quarter. Geode Capital Management LLC grew its holdings in 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 acquiring an additional 59,089 shares during the last quarter. Renaissance Technologies LLC increased its position in Clearside Biomedical by 6.6% in the 2nd quarter. Renaissance Technologies LLC now owns 582,689 shares of the company’s stock valued at $757,000 after acquiring an additional 35,900 shares in the last quarter. Assenagon Asset Management S.A. bought a new position in shares of Clearside Biomedical in the second quarter worth about $368,000. Finally, Johnson & Johnson acquired a new position in shares of Clearside Biomedical during the third quarter worth approximately $105,000. Institutional investors and hedge funds 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.