Needham & Company LLC Reaffirms Buy Rating for Clearside Biomedical (NASDAQ:CLSD)

Needham & Company LLC reaffirmed their buy rating on shares of Clearside Biomedical (NASDAQ:CLSD) in a research note released on Wednesday morning,Benzinga reports. Needham & Company LLC currently has a $6.00 target price on the stock.

A number of other equities research analysts have also issued reports on the stock. HC Wainwright reiterated a “buy” rating and set a $5.00 target price on shares of Clearside Biomedical in a report on Tuesday, August 27th. StockNews.com lowered Clearside Biomedical from a “hold” rating to a “sell” rating in a research report on Friday, November 8th. Finally, Chardan Capital reissued a “buy” rating and issued a $6.00 price target on shares of Clearside Biomedical in a research report on Monday, October 14th. One investment analyst has rated the stock with a sell rating and six have issued a buy rating to the company. According to MarketBeat, Clearside Biomedical has an average rating of “Moderate Buy” and a consensus price target of $5.33.

Clearside Biomedical Price Performance

Shares of CLSD stock opened at $1.10 on Wednesday. The firm’s 50-day moving average is $1.19 and its two-hundred day moving average is $1.19. Clearside Biomedical has a 12 month low of $0.90 and a 12 month high of $2.12. The company has a market capitalization of $82.20 million, a PE ratio of -2.40 and a beta of 2.33.

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

Insider Activity

In related news, insider Ngai Hang Victor Chong bought 36,500 shares of the firm’s stock in a transaction on Friday, November 1st. The shares were bought at an average cost of $1.00 per share, for a total transaction of $36,500.00. Following the transaction, the insider now owns 100,000 shares of the company’s stock, valued at approximately $100,000. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 9.20% of the company’s stock.

Institutional Trading of Clearside Biomedical

Institutional investors have recently bought and sold shares of the company. SG Americas Securities LLC acquired a new position in shares of Clearside Biomedical during the 1st quarter worth $49,000. XTX Topco Ltd raised its position in shares of Clearside Biomedical by 172.2% during the 2nd quarter. XTX Topco Ltd now owns 54,313 shares of the company’s stock worth $71,000 after purchasing an additional 34,359 shares during the last quarter. Renaissance Technologies LLC lifted its stake in Clearside Biomedical by 6.6% in the 2nd quarter. Renaissance Technologies LLC now owns 582,689 shares of the company’s stock valued at $757,000 after buying an additional 35,900 shares in the last quarter. Johnson & Johnson acquired a new stake in Clearside Biomedical during the 3rd quarter valued at $105,000. Finally, Assenagon Asset Management S.A. purchased a new position in Clearside Biomedical during the second quarter worth $368,000. 18.75% of the stock is currently owned by hedge funds and other institutional investors.

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.