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

StockNews.com upgraded shares of Clearside Biomedical (NASDAQ:CLSD) from a sell rating to a hold rating in a research report sent to investors on Friday morning.

CLSD has been the subject of a number of other reports. Chardan Capital reiterated a “buy” rating and issued a $6.00 price target on shares of Clearside Biomedical in a research note on Monday, October 14th. Oppenheimer started coverage on Clearside Biomedical in a report on Tuesday, June 25th. They set an “outperform” rating and a $5.00 price target on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $5.00 price objective on shares of Clearside Biomedical in a report on Tuesday, August 27th. Finally, Needham & Company LLC increased their target price on Clearside Biomedical from $4.00 to $6.00 and gave the company a “buy” rating in a report on Thursday, October 10th. One analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $5.17.

Clearside Biomedical Price Performance

Shares of CLSD opened at $1.15 on Friday. Clearside Biomedical has a twelve month low of $0.65 and a twelve month high of $2.12. The company has a market capitalization of $85.94 million, a P/E ratio of -2.09 and a beta of 2.35. The firm has a 50 day moving average of $1.16 and a 200 day moving average of $1.22.

Clearside Biomedical (NASDAQ:CLSD) last posted its quarterly earnings results on Monday, August 12th. The company reported ($0.10) earnings per share for the quarter, topping the consensus estimate of ($0.14) by $0.04. The business had revenue of $0.09 million during the quarter, compared to analysts’ expectations of $0.25 million. During the same quarter in the prior year, the firm earned ($0.15) EPS. On average, sell-side analysts expect that Clearside Biomedical will post -0.56 EPS for the current year.

Institutional Trading of Clearside Biomedical

Several hedge funds have recently bought and sold shares of CLSD. International Assets Investment Management LLC purchased a new position in shares of Clearside Biomedical during the 1st quarter valued at about $57,000. SG Americas Securities LLC purchased a new position in Clearside Biomedical during the first quarter valued at approximately $49,000. Vanguard Group Inc. boosted its position in shares of Clearside Biomedical by 14.5% in 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 during the period. Assenagon Asset Management S.A. purchased a new stake in shares of Clearside Biomedical in the second quarter worth $368,000. Finally, Renaissance Technologies LLC raised its position in shares of Clearside Biomedical by 6.6% during the 2nd 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 during the period. Institutional investors own 18.75% of the company’s stock.

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.