Clearside Biomedical (NASDAQ:CLSD) Upgraded by StockNews.com to “Hold” Rating

StockNews.com upgraded shares of Clearside Biomedical (NASDAQ:CLSD) from a sell rating to a hold rating in a report published on Thursday morning.

Other equities research analysts also recently issued research reports about the company. Needham & Company LLC restated a “buy” rating and set a $6.00 price target on shares of Clearside Biomedical in a research report on Wednesday, November 13th. Chardan Capital reiterated a “buy” rating and set a $6.00 price objective on shares of Clearside Biomedical in a research report on Friday, November 15th. Finally, HC Wainwright reissued a “buy” rating and set a $6.00 price objective on shares of Clearside Biomedical in a report on Thursday, November 14th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, Clearside Biomedical has a consensus rating of “Moderate Buy” and a consensus price target of $5.33.

Clearside Biomedical Stock Performance

CLSD stock opened at $1.00 on Thursday. The company’s 50 day moving average is $1.12 and its 200 day moving average is $1.15. Clearside Biomedical has a 1-year low of $0.92 and a 1-year high of $2.12.

Clearside Biomedical (NASDAQ:CLSD) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.10) EPS for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.04. The company had revenue of $1.04 million during the quarter, compared to the consensus estimate of $0.25 million. During the same period in the previous year, the company earned ($0.15) EPS. Research analysts forecast that Clearside Biomedical will post -0.48 earnings per share for the current fiscal year.

Insider Transactions at Clearside Biomedical

In other news, insider Ngai Hang Victor Chong bought 36,500 shares of the business’s stock in a transaction dated Friday, November 1st. The shares were purchased at an average price of $1.00 per share, for a total transaction of $36,500.00. Following the completion of the acquisition, the insider now owns 100,000 shares of the company’s stock, valued at approximately $100,000. This trade represents a 57.48 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 9.20% of the company’s stock.

Institutional Investors Weigh In On Clearside Biomedical

Several institutional investors have recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. bought a new position in shares of Clearside Biomedical during the second quarter valued at about $368,000. Vanguard Group Inc. increased its holdings in 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 purchasing an additional 314,480 shares during the period. XTX Topco Ltd raised its position in Clearside Biomedical by 172.2% during the 2nd quarter. XTX Topco Ltd now owns 54,313 shares of the company’s stock valued at $71,000 after purchasing an additional 34,359 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in Clearside Biomedical by 6.6% in the 2nd quarter. Renaissance Technologies LLC now owns 582,689 shares of the company’s stock worth $757,000 after buying an additional 35,900 shares during the period. Finally, Johnson & Johnson bought a new stake in shares of Clearside Biomedical in the 3rd quarter worth approximately $105,000. Hedge funds and other 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.