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

Clearside Biomedical, Inc. (NASDAQ:CLSD) has been assigned an average recommendation of “Buy” from the five analysts that are presently covering the stock, Marketbeat reports. Five analysts have rated the stock with a buy rating. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $4.60.

A number of equities research analysts recently issued reports on CLSD shares. JMP Securities reaffirmed a “market outperform” rating and issued a $5.00 target price on shares of Clearside Biomedical in a research note on Wednesday, March 13th. HC Wainwright reduced their price objective on Clearside Biomedical from $6.00 to $5.00 and set a “buy” rating on the stock in a research report on Monday, May 13th. Needham & Company LLC reiterated a “buy” rating and set a $4.00 price objective on shares of Clearside Biomedical in a research report on Monday, May 13th. StockNews.com lowered shares of Clearside Biomedical from a “hold” rating to a “sell” rating in a report on Friday, May 10th. Finally, Wedbush reiterated an “outperform” rating and set a $4.00 price target (down from $5.00) on shares of Clearside Biomedical in a report on Wednesday, March 13th.

Institutional Trading of Clearside Biomedical

A number of hedge funds have recently added to or reduced their stakes in the business. SG Americas Securities LLC acquired a new position in shares of Clearside Biomedical during the 1st quarter valued at about $49,000. International Assets Investment Management LLC acquired a new stake in shares of Clearside Biomedical in the first quarter worth approximately $57,000. Vanguard Group Inc. grew its holdings in Clearside Biomedical by 14.5% in the first quarter. Vanguard Group Inc. now owns 2,490,796 shares of the company’s stock valued at $3,811,000 after purchasing an additional 314,480 shares during the period. Finally, Rosalind Advisors Inc. acquired a new position in Clearside Biomedical during the first quarter worth approximately $3,967,000. 18.75% of the stock is owned by institutional investors and hedge funds.

Clearside Biomedical Stock Performance

CLSD opened at $1.24 on Tuesday. Clearside Biomedical has a one year low of $0.65 and a one year high of $2.12. The company has a market cap of $92.67 million, a price-to-earnings ratio of -2.25 and a beta of 2.43. The business’s fifty day moving average is $1.27 and its two-hundred day moving average is $1.34.

Clearside Biomedical (NASDAQ:CLSD) last posted its earnings results on Thursday, May 9th. The company reported ($0.17) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($0.03). The business had revenue of $0.23 million for the quarter, compared to analysts’ expectations of $0.98 million. During the same period in the prior year, the business earned ($0.15) EPS. On average, analysts predict that Clearside Biomedical will post -0.63 EPS for the current fiscal 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.