Clearside Biomedical, Inc. (NASDAQ:CLSD) Given Consensus Recommendation of “Buy” by Analysts

Shares of Clearside Biomedical, Inc. (NASDAQ:CLSD) have earned a consensus recommendation of “Buy” from the six brokerages that are covering the firm, Marketbeat.com reports. Six analysts have rated the stock with a buy rating. The average twelve-month price target among brokers that have covered the stock in the last year is $5.33.

CLSD has been the subject of a number of analyst reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $6.00 price objective on shares of Clearside Biomedical in a research report on Wednesday, November 13th. StockNews.com upgraded shares of Clearside Biomedical from a “sell” rating to a “hold” rating in a research note on Saturday, November 16th. Chardan Capital reaffirmed a “buy” rating and set a $6.00 price target on shares of Clearside Biomedical in a research note on Friday, November 15th. Finally, HC Wainwright reiterated a “buy” rating and issued a $6.00 price objective on shares of Clearside Biomedical in a report on Thursday, November 14th.

Insider Activity at Clearside Biomedical

In other news, insider Ngai Hang Victor Chong acquired 36,500 shares of the stock in a transaction that occurred on Friday, November 1st. The stock was purchased at an average cost of $1.00 per share, with a total value of $36,500.00. Following the completion of the acquisition, the insider now directly owns 100,000 shares in the company, valued at $100,000. This represents a 57.48 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 9.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. SG Americas Securities LLC acquired a new stake in shares of Clearside Biomedical during the 1st quarter valued at approximately $49,000. XTX Topco Ltd raised its holdings in shares of Clearside Biomedical by 172.2% during the second quarter. XTX Topco Ltd now owns 54,313 shares of the company’s stock worth $71,000 after purchasing an additional 34,359 shares during the period. Renaissance Technologies LLC lifted its position in shares of Clearside Biomedical by 6.6% in the 2nd quarter. Renaissance Technologies LLC now owns 582,689 shares of the company’s stock worth $757,000 after buying an additional 35,900 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Clearside Biomedical by 8.8% in 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 during the last quarter. Finally, Johnson & Johnson acquired a new position in shares of Clearside Biomedical in the 3rd quarter valued at about $105,000. Institutional investors own 18.75% of the company’s stock.

Clearside Biomedical Trading Down 1.0 %

Shares of Clearside Biomedical stock opened at $1.04 on Friday. Clearside Biomedical has a twelve month low of $0.92 and a twelve month high of $2.12. The stock has a market cap of $78.84 million, a price-to-earnings ratio of -2.31 and a beta of 2.33. The company has a fifty day moving average price of $1.18 and a 200 day moving average price of $1.18.

Clearside Biomedical (NASDAQ:CLSD) last issued its earnings results on Tuesday, November 12th. The company reported ($0.10) earnings per share for the quarter, topping the consensus estimate of ($0.14) by $0.04. The company had revenue of $1.04 million during the quarter, compared to analysts’ expectations of $0.25 million. During the same period in the previous year, the company earned ($0.15) EPS. Analysts forecast that Clearside Biomedical will post -0.48 earnings per share for the current year.

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.