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

Shares of Clearside Biomedical, Inc. (NASDAQ:CLSD) have received an average rating of “Buy” from the five analysts that are presently covering the company, MarketBeat.com reports. Five analysts have rated the stock with a buy recommendation. The average twelve-month target price among brokerages that have covered the stock in the last year is $4.60.

A number of research firms recently issued reports on CLSD. StockNews.com downgraded shares of Clearside Biomedical from a “hold” rating to a “sell” rating in a report on Friday, May 10th. HC Wainwright reiterated a “buy” rating and issued a $5.00 price objective on shares of Clearside Biomedical in a research note on Tuesday, August 13th. Oppenheimer initiated coverage on Clearside Biomedical in a research report on Tuesday, June 25th. They issued an “outperform” rating and a $5.00 target price for the company. Finally, Needham & Company LLC reiterated a “buy” rating and set a $4.00 price target on shares of Clearside Biomedical in a research note on Tuesday, August 13th.

Clearside Biomedical Stock Down 4.3 %

Shares of NASDAQ CLSD opened at $1.01 on Wednesday. The company has a market capitalization of $75.48 million, a PE ratio of -1.84 and a beta of 2.43. The stock’s 50 day moving average price is $1.17 and its 200-day moving average price is $1.31. Clearside Biomedical has a twelve month low of $0.65 and a twelve month high of $2.12.

Clearside Biomedical (NASDAQ:CLSD) last announced its quarterly earnings data on Monday, August 12th. The company reported ($0.10) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.04. The business had revenue of $0.09 million during the quarter, compared to the consensus estimate of $0.25 million. During the same quarter last year, the company earned ($0.15) EPS. As a group, research analysts expect that Clearside Biomedical will post -0.6 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. SG Americas Securities LLC purchased a new position in Clearside Biomedical during the first quarter worth about $49,000. International Assets Investment Management LLC bought a new stake in shares of Clearside Biomedical during the 1st quarter valued at about $57,000. XTX Topco Ltd grew 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 in the last quarter. Assenagon Asset Management S.A. bought a new position in shares of Clearside Biomedical in the second quarter worth approximately $368,000. Finally, Renaissance Technologies LLC raised its stake in Clearside Biomedical by 6.6% in the second quarter. Renaissance Technologies LLC now owns 582,689 shares of the company’s stock valued at $757,000 after purchasing an additional 35,900 shares in the last quarter. Institutional investors own 18.75% of the company’s stock.

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.