HC Wainwright Reaffirms Buy Rating for Clearside Biomedical (NASDAQ:CLSD)

HC Wainwright reissued their buy rating on shares of Clearside Biomedical (NASDAQ:CLSD) in a report issued on Thursday,Benzinga reports. HC Wainwright currently has a $6.00 price target on the stock.

CLSD has been the topic of several other reports. StockNews.com lowered Clearside Biomedical from a “hold” rating to a “sell” rating in a research note on Friday, November 8th. Chardan Capital reaffirmed a “buy” rating and set a $6.00 price objective on shares of Clearside Biomedical in a research note on Monday, October 14th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $6.00 price target on shares of Clearside Biomedical in a research note on Wednesday. One analyst has rated the stock with a sell rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $5.33.

Clearside Biomedical Stock Performance

NASDAQ:CLSD traded down $0.06 during trading on Thursday, reaching $0.99. The company’s stock had a trading volume of 409,984 shares, compared to its average volume of 400,856. The firm has a market cap of $75.09 million, a price-to-earnings ratio of -2.24 and a beta of 2.33. Clearside Biomedical has a 12 month low of $0.90 and a 12 month high of $2.12. The firm has a 50 day moving average of $1.19 and a 200-day moving average of $1.19.

Clearside Biomedical (NASDAQ:CLSD) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.10) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.04. The company had revenue of $1.04 million for the quarter, compared to analysts’ expectations of $0.25 million. During the same quarter last year, the business posted ($0.15) EPS. Equities research analysts forecast that Clearside Biomedical will post -0.56 earnings per share for the current fiscal year.

Insider Buying and Selling at Clearside Biomedical

In other news, insider Ngai Hang Victor Chong purchased 36,500 shares of the company’s stock in a transaction on Friday, November 1st. The stock was acquired at an average price of $1.00 per share, with a total value of $36,500.00. Following the transaction, the insider now directly owns 100,000 shares of the company’s stock, valued at approximately $100,000. This represents a 57.48 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 9.20% of the company’s stock.

Institutional Trading of Clearside Biomedical

Several large investors have recently modified their holdings of CLSD. Vanguard Group Inc. raised its position in Clearside Biomedical by 14.5% during the 1st quarter. Vanguard Group Inc. now owns 2,490,796 shares of the company’s stock valued at $3,811,000 after purchasing an additional 314,480 shares during the last quarter. Assenagon Asset Management S.A. purchased a new stake in Clearside Biomedical in the second quarter worth $368,000. Johnson & Johnson bought a new position in Clearside Biomedical in the 3rd quarter worth $105,000. Renaissance Technologies LLC lifted its position in shares of Clearside Biomedical by 6.6% in the 2nd quarter. Renaissance Technologies LLC now owns 582,689 shares of the company’s stock worth $757,000 after purchasing an additional 35,900 shares during the period. Finally, XTX Topco Ltd boosted its stake 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 valued at $71,000 after purchasing an additional 34,359 shares in the last quarter. 18.75% of the stock is owned by institutional investors.

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.