Shares of Clearside Biomedical Inc (NASDAQ:CLSD) have been assigned a consensus rating of “Hold” from the eleven brokerages that are presently covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $11.83.
A number of analysts recently commented on the company. Zacks Investment Research lowered Clearside Biomedical from a “hold” rating to a “sell” rating in a research note on Tuesday, October 9th. Wedbush set a $29.00 price target on Clearside Biomedical and gave the stock a “buy” rating in a research note on Tuesday, October 23rd. JPMorgan Chase & Co. lowered Clearside Biomedical from an “overweight” rating to an “underweight” rating in a research note on Monday, November 5th. Cowen lowered Clearside Biomedical from an “outperform” rating to a “market perform” rating in a research note on Monday, November 5th. Finally, Stifel Nicolaus reaffirmed a “hold” rating and issued a $4.00 price target (down previously from $20.00) on shares of Clearside Biomedical in a research note on Monday, November 5th.
Shares of Clearside Biomedical stock opened at $1.21 on Friday. The company has a current ratio of 4.59, a quick ratio of 4.59 and a debt-to-equity ratio of 0.22. Clearside Biomedical has a 52-week low of $0.99 and a 52-week high of $15.33. The company has a market capitalization of $37.79 million, a PE ratio of -0.52 and a beta of -1.80.
Institutional investors have recently made changes to their positions in the business. BlackRock Inc. lifted its position in Clearside Biomedical by 53.1% during the second quarter. BlackRock Inc. now owns 1,859,948 shares of the company’s stock valued at $19,883,000 after buying an additional 645,292 shares during the period. Voya Investment Management LLC purchased a new position in Clearside Biomedical during the second quarter valued at $123,000. Point72 Asset Management L.P. purchased a new position in Clearside Biomedical during the second quarter valued at $2,138,000. Northern Trust Corp lifted its position in Clearside Biomedical by 28.1% during the second quarter. Northern Trust Corp now owns 311,755 shares of the company’s stock valued at $3,333,000 after buying an additional 68,357 shares during the period. Finally, GSA Capital Partners LLP purchased a new position in Clearside Biomedical during the second quarter valued at $534,000. 57.94% of the stock is owned by institutional investors and hedge funds.
About Clearside Biomedical
Clearside Biomedical, Inc, a late-stage clinical biopharmaceutical company, develops pharmacological therapies to treat blinding diseases of the eye. It is developing suprachoroidal injection of CLS-TA, a proprietary preservative-free formulation of the corticosteroid triamcinolone acetonide, which is in Phase III clinical trial for the treatment of macular edema associated with non-infectious uveitis; suprachoroidal injection of CLS-TA and a concomitant intravitreal injection of Eylea, an inhibitor of vascular endothelial growth factor that is in Phase III clinical trial to treat macular edema associated with retinal vein occlusion; and suprachoroidal injection of CLS-TA alone or together with intravitreal injection of Eylea that is in phase II clinical trial for diabetic macular edema.
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