Chardan Capital Initiates Coverage on Clearside Biomedical (NASDAQ:CLSD)

Chardan Capital assumed coverage on shares of Clearside Biomedical (NASDAQ:CLSD) in a research report report published on Wednesday morning, MarketBeat Ratings reports. The brokerage issued a buy rating and a $6.00 target price on the stock.

CLSD has been the subject of a number of other reports. Needham & Company LLC restated a buy rating and set a $4.00 price objective on shares of Clearside Biomedical in a research report on Tuesday, August 13th. StockNews.com lowered shares of Clearside Biomedical from a hold rating to a sell rating in a report on Friday, May 10th. Oppenheimer initiated coverage on shares of Clearside Biomedical in a research note on Tuesday, June 25th. They issued an outperform rating and a $5.00 price objective on the stock. Finally, HC Wainwright reiterated a buy rating and set a $5.00 price objective on shares of Clearside Biomedical in a research report on Tuesday, August 13th. One equities research analyst has rated the stock with a sell rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average price target of $4.83.

Clearside Biomedical Price Performance

CLSD stock opened at $1.02 on Wednesday. The company has a 50 day simple moving average of $1.15 and a 200 day simple moving average of $1.30. The stock has a market cap of $76.23 million, a price-to-earnings ratio of -1.85 and a beta of 2.43. Clearside Biomedical has a 1 year low of $0.65 and a 1 year high of $2.12.

Clearside Biomedical (NASDAQ:CLSD) last announced its quarterly earnings results on Monday, August 12th. The company reported ($0.10) EPS for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.04. The firm had revenue of $0.09 million for the quarter, compared to analyst estimates of $0.25 million. During the same period in the previous year, the business posted ($0.15) earnings per share. On average, equities research analysts anticipate that Clearside Biomedical will post -0.6 EPS for the current fiscal year.

Institutional Trading of Clearside Biomedical

Several hedge funds have recently modified their holdings of CLSD. SG Americas Securities LLC acquired a new stake in Clearside Biomedical in the first quarter valued at approximately $49,000. International Assets Investment Management LLC purchased a new stake in shares of Clearside Biomedical in the first quarter worth approximately $57,000. XTX Topco Ltd boosted its position 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 valued at $71,000 after buying an additional 34,359 shares during the last quarter. Assenagon Asset Management S.A. bought a new position in Clearside Biomedical during the 2nd quarter valued at $368,000. Finally, Renaissance Technologies LLC boosted its holdings in Clearside Biomedical by 6.6% during the 2nd quarter. Renaissance Technologies LLC now owns 582,689 shares of the company’s stock worth $757,000 after acquiring an additional 35,900 shares during 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.