Clearside Biomedical (NASDAQ:CLSD) Earns “Buy” Rating from Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Clearside Biomedical (NASDAQ:CLSD) in a report issued on Thursday, Benzinga reports. Needham & Company LLC currently has a $4.00 price target on the stock.

Several other equities analysts also recently weighed in on CLSD. HC Wainwright reduced their target price 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. Oppenheimer began coverage on shares of Clearside Biomedical in a research report on Tuesday, June 25th. They issued an outperform rating and a $5.00 target price on the stock. Finally, StockNews.com lowered shares of Clearside Biomedical from a hold rating to a sell rating in a research report on Friday, May 10th. One investment analyst has rated the stock with a sell rating and five have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus target price of $4.60.

Clearside Biomedical Stock Performance

Shares of CLSD opened at $1.17 on Thursday. Clearside Biomedical has a 1 year low of $0.65 and a 1 year high of $2.12. The company’s 50 day simple moving average is $1.24 and its 200 day simple moving average is $1.34. The company has a market capitalization of $87.43 million, a price-to-earnings ratio of -2.13 and a beta of 2.43.

Clearside Biomedical (NASDAQ:CLSD) last issued its quarterly 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 during the quarter, compared to the consensus estimate of $0.98 million. During the same period in the previous year, the business earned ($0.15) EPS. Equities analysts expect that Clearside Biomedical will post -0.63 EPS for the current fiscal year.

Hedge Funds Weigh In On Clearside Biomedical

Several hedge funds and other institutional investors have recently modified their holdings of the company. SG Americas Securities LLC acquired a new stake in Clearside Biomedical during the 1st quarter worth approximately $49,000. International Assets Investment Management LLC acquired a new stake in shares of Clearside Biomedical in the first quarter worth $57,000. Assenagon Asset Management S.A. acquired a new position in shares of Clearside Biomedical during the 2nd quarter valued at $368,000. Vanguard Group Inc. lifted its holdings in shares of Clearside Biomedical by 14.5% during the 1st quarter. Vanguard Group Inc. now owns 2,490,796 shares of the company’s stock valued at $3,811,000 after acquiring an additional 314,480 shares in the last quarter. Finally, Rosalind Advisors Inc. purchased a new stake in Clearside Biomedical during the 1st quarter worth $3,967,000. 18.75% of the stock is owned by institutional investors and hedge funds.

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.