Clearside Biomedical (NASDAQ:CLSD)‘s stock had its “hold” rating reiterated by research analysts at Stifel Nicolaus in a research report issued to clients and investors on Monday, Marketbeat reports. They currently have a $4.00 price objective on the stock, down from their prior price objective of $20.00. Stifel Nicolaus’ price objective would indicate a potential upside of 80.18% from the stock’s current price.
Several other equities analysts have also issued reports on CLSD. Cowen lowered shares of Clearside Biomedical from an “outperform” rating to a “market perform” rating in a report on Monday. BidaskClub lowered shares of Clearside Biomedical from a “buy” rating to a “hold” rating in a report on Friday, July 20th. Zacks Investment Research lowered shares of Clearside Biomedical from a “hold” rating to a “sell” rating in a report on Tuesday, July 10th. Wedbush set a $29.00 target price on shares of Clearside Biomedical and gave the company a “buy” rating in a report on Tuesday, October 23rd. Finally, Laidlaw assumed coverage on shares of Clearside Biomedical in a report on Monday, July 16th. They set a “buy” rating and a $18.00 target price for the company. Three analysts have rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $14.57.
CLSD stock opened at $2.22 on Monday. Clearside Biomedical has a 52-week low of $1.95 and a 52-week high of $15.33. The company has a current ratio of 7.94, a quick ratio of 7.94 and a debt-to-equity ratio of 0.15.
Clearside Biomedical (NASDAQ:CLSD) last released its earnings results on Wednesday, August 8th. The company reported ($0.65) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.58) by ($0.07). As a group, research analysts expect that Clearside Biomedical will post -2.53 EPS for the current year.
Several institutional investors and hedge funds have recently made changes to their positions in the stock. Engineers Gate Manager LP bought a new stake in shares of Clearside Biomedical during the third quarter valued at approximately $202,000. Russell Investments Group Ltd. increased its position in shares of Clearside Biomedical by 102.7% during the third quarter. Russell Investments Group Ltd. now owns 158,931 shares of the company’s stock valued at $977,000 after acquiring an additional 80,540 shares in the last quarter. Alps Advisors Inc. increased its position in shares of Clearside Biomedical by 22.3% during the third quarter. Alps Advisors Inc. now owns 56,670 shares of the company’s stock valued at $349,000 after acquiring an additional 10,315 shares in the last quarter. Northern Trust Corp increased its position in shares of Clearside Biomedical by 28.1% during the second quarter. Northern Trust Corp now owns 311,755 shares of the company’s stock valued at $3,333,000 after acquiring an additional 68,357 shares in the last quarter. Finally, Point72 Asset Management L.P. bought a new stake in shares of Clearside Biomedical during the second quarter valued at approximately $2,138,000. 62.23% of the stock is owned by institutional investors.
Clearside Biomedical Company Profile
Clearside Biomedical, Inc, a late-stage clinical biopharmaceutical company, develops pharmacological therapies to treat blinding diseases of the eye. It is developing suprachoroidal injection of CLS-TA, a proprietary preservative-free formulation of the corticosteroid triamcinolone acetonide, which is in Phase III clinical trial for the treatment of macular edema associated with non-infectious uveitis; suprachoroidal injection of CLS-TA and a concomitant intravitreal injection of Eylea, an inhibitor of vascular endothelial growth factor that is in Phase III clinical trial to treat macular edema associated with retinal vein occlusion; and suprachoroidal injection of CLS-TA alone or together with intravitreal injection of Eylea that is in phase II clinical trial for diabetic macular edema.
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