Clearside Biomedical’s (CLSD) “Buy” Rating Reaffirmed at Chardan Capital

Clearside Biomedical (NASDAQ:CLSD)‘s stock had its “buy” rating reiterated by research analysts at Chardan Capital in a note issued to investors on Friday,Benzinga reports. They presently have a $6.00 target price on the stock. Chardan Capital’s price target points to a potential upside of 482.52% from the company’s current price.

Several other equities analysts have also issued reports on the stock. HC Wainwright reissued a “buy” rating and issued a $6.00 price target on shares of Clearside Biomedical in a report on Thursday, March 6th. StockNews.com cut Clearside Biomedical from a “hold” rating to a “sell” rating in a research note on Tuesday, March 18th. Finally, Needham & Company LLC dropped their price target on Clearside Biomedical from $6.00 to $4.00 and set a “buy” rating on the stock in a research report on Friday. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $5.25.

Clearside Biomedical Trading Up 1.0 %

Clearside Biomedical stock opened at $1.03 on Friday. The firm has a market capitalization of $78.12 million, a P/E ratio of -2.29 and a beta of 2.10. The business has a 50-day moving average of $0.96 and a 200-day moving average of $1.05. Clearside Biomedical has a 1 year low of $0.77 and a 1 year high of $1.73.

Clearside Biomedical (NASDAQ:CLSD) last released its quarterly earnings data on Thursday, March 27th. The company reported ($0.10) earnings per share for the quarter, topping the consensus estimate of ($0.13) by $0.03. Research analysts anticipate that Clearside Biomedical will post -0.48 EPS for the current fiscal year.

Hedge Funds Weigh In On Clearside Biomedical

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Geode Capital Management LLC lifted its holdings in shares of Clearside Biomedical by 8.8% in the third quarter. Geode Capital Management LLC now owns 731,386 shares of the company’s stock valued at $929,000 after purchasing an additional 59,089 shares in the last quarter. Northern Trust Corp grew its holdings in shares of Clearside Biomedical by 24.0% during the fourth quarter. Northern Trust Corp now owns 165,499 shares of the company’s stock worth $157,000 after buying an additional 32,048 shares in the last quarter. Finally, Investor s Fiduciary Advisor Network LLC acquired a new stake in Clearside Biomedical in the 4th quarter valued at approximately $32,000. 18.75% of the stock is owned by institutional investors and hedge funds.

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.