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

Clearside Biomedical, Inc. (NASDAQ:CLSD) has received an average rating of “Buy” from the five research firms that are currently covering the firm, MarketBeat.com reports. Five equities research analysts have rated the stock with a buy rating. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $4.60.

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

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. SG Americas Securities LLC purchased 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 approximately $57,000. Vanguard Group Inc. increased its position in shares of Clearside Biomedical by 14.5% during the first quarter. Vanguard Group Inc. now owns 2,490,796 shares of the company’s stock worth $3,811,000 after purchasing an additional 314,480 shares in the last quarter. Finally, Rosalind Advisors Inc. acquired a new position in Clearside Biomedical in the 1st quarter valued at $3,967,000. Institutional investors and hedge funds own 18.75% of the company’s stock.

Clearside Biomedical Price Performance

NASDAQ CLSD opened at $1.24 on Tuesday. The company has a fifty day moving average of $1.27 and a 200 day moving average of $1.34. The company has a market capitalization of $92.67 million, a PE ratio of -2.25 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 issued its quarterly earnings data on Thursday, May 9th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.03). The firm had revenue of $0.23 million during the quarter, compared to analyst estimates of $0.98 million. During the same period in the previous year, the business posted ($0.15) earnings per share. Research analysts expect that Clearside Biomedical will post -0.63 earnings per share for the current year.

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.