Clearside Biomedical, Inc. (NASDAQ:CLSD) Receives Average Recommendation of “Buy” from Brokerages

Clearside Biomedical, Inc. (NASDAQ:CLSD) has been assigned an average rating of “Buy” from the six ratings firms that are presently covering the company, MarketBeat reports. Six investment analysts have rated the stock with a buy recommendation. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $5.33.

A number of brokerages recently issued reports on CLSD. Needham & Company LLC reiterated a “buy” rating and issued a $6.00 price objective on shares of Clearside Biomedical in a research report on Wednesday, November 13th. HC Wainwright reaffirmed a “buy” rating and issued a $6.00 price target on shares of Clearside Biomedical in a report on Thursday, November 14th. Chardan Capital reissued a “buy” rating and set a $6.00 price objective on shares of Clearside Biomedical in a report on Friday, November 15th. Finally, StockNews.com raised shares of Clearside Biomedical from a “sell” rating to a “hold” rating in a research note on Thursday, December 12th.

Clearside Biomedical Price Performance

Shares of CLSD stock opened at $0.98 on Wednesday. Clearside Biomedical has a one year low of $0.80 and a one year high of $2.12. The company has a market cap of $74.20 million, a P/E ratio of -2.17 and a beta of 2.22. The firm has a 50-day moving average of $0.97 and a 200-day moving average of $1.07.

Clearside Biomedical (NASDAQ:CLSD) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.10) EPS for the quarter, beating the consensus estimate of ($0.14) by $0.04. The firm had revenue of $1.04 million during the quarter, compared to analysts’ expectations of $0.25 million. During the same quarter in the previous year, the company posted ($0.15) EPS. As a group, research analysts expect that Clearside Biomedical will post -0.48 earnings per share for the current fiscal year.

Institutional Trading of Clearside Biomedical

A number of hedge funds and other institutional investors have recently modified their holdings of CLSD. Johnson & Johnson bought a new position in shares of Clearside Biomedical during the third quarter valued at approximately $105,000. Geode Capital Management LLC grew its stake 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, Renaissance Technologies LLC increased its position in Clearside Biomedical by 6.6% during the 2nd quarter. Renaissance Technologies LLC now owns 582,689 shares of the company’s stock valued at $757,000 after buying an additional 35,900 shares in the last quarter. 18.75% of the stock is owned by hedge funds and other institutional investors.

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.