Needham & Company LLC Issues Pessimistic Forecast for Clearside Biomedical (NASDAQ:CLSD) Stock Price

Clearside Biomedical (NASDAQ:CLSD) had its price target lowered by Needham & Company LLC from $6.00 to $4.00 in a report issued on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Needham & Company LLC’s price objective indicates a potential upside of 288.35% from the stock’s previous close.

CLSD has been the subject of several other research reports. StockNews.com downgraded Clearside Biomedical from a “hold” rating to a “sell” rating in a research report on Tuesday, March 18th. HC Wainwright reissued a “buy” rating and set a $6.00 price objective on shares of Clearside Biomedical in a report on Thursday, March 6th. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $5.25.

Clearside Biomedical Price Performance

CLSD opened at $1.03 on Friday. The company has a market capitalization of $78.12 million, a P/E ratio of -2.29 and a beta of 2.10. The firm’s fifty day moving average price is $0.96 and its two-hundred day moving average price is $1.05. Clearside Biomedical has a fifty-two week low of $0.77 and a fifty-two week high of $1.73.

Clearside Biomedical (NASDAQ:CLSD) last posted its earnings results on Thursday, March 27th. The company reported ($0.10) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.03. On average, equities research analysts expect that Clearside Biomedical will post -0.48 EPS for the current fiscal year.

Hedge Funds Weigh In On Clearside Biomedical

Institutional investors have recently bought and sold shares of the business. Geode Capital Management LLC raised its holdings in shares of Clearside Biomedical by 4.5% in the fourth quarter. Geode Capital Management LLC now owns 764,058 shares of the company’s stock valued at $726,000 after buying an additional 32,672 shares during the last quarter. Northern Trust Corp increased its position in Clearside Biomedical by 24.0% in the 4th quarter. Northern Trust Corp now owns 165,499 shares of the company’s stock valued at $157,000 after acquiring an additional 32,048 shares in the last quarter. Finally, Investor s Fiduciary Advisor Network LLC acquired a new position in shares of Clearside Biomedical during the fourth quarter worth approximately $32,000. 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.