Clearside Biomedical (NASDAQ:CLSD) Upgraded by StockNews.com to “Hold” Rating

StockNews.com upgraded shares of Clearside Biomedical (NASDAQ:CLSD) from a sell rating to a hold rating in a research report released on Saturday morning.

Other research analysts also recently issued research reports about the stock. Needham & Company LLC reiterated a “buy” rating and issued a $6.00 price objective on shares of Clearside Biomedical in a research report on Wednesday. Chardan Capital restated a “buy” rating and issued a $6.00 price target on shares of Clearside Biomedical in a research note on Friday. Finally, HC Wainwright reiterated a “buy” rating and set a $6.00 price target on shares of Clearside Biomedical in a research report on Thursday. One analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $5.33.

Clearside Biomedical Stock Down 5.7 %

Clearside Biomedical stock opened at $0.99 on Friday. The business’s 50-day moving average price is $1.19 and its 200 day moving average price is $1.19. Clearside Biomedical has a 52 week low of $0.90 and a 52 week high of $2.12.

Clearside Biomedical (NASDAQ:CLSD) last posted its earnings results on Tuesday, November 12th. The company reported ($0.10) earnings per share for the quarter, beating the consensus estimate of ($0.14) by $0.04. The firm had revenue of $1.04 million for the quarter, compared to analysts’ expectations of $0.25 million. During the same period last year, the firm earned ($0.15) earnings per share. Sell-side analysts forecast that Clearside Biomedical will post -0.51 EPS for the current fiscal year.

Insider Transactions at Clearside Biomedical

In other news, insider Ngai Hang Victor Chong purchased 36,500 shares of the stock in a transaction dated Friday, November 1st. The shares were purchased at an average cost of $1.00 per share, with a total value of $36,500.00. Following the completion of the purchase, the insider now directly owns 100,000 shares of the company’s stock, valued at approximately $100,000. The trade was a 57.48 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 9.20% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. purchased a new stake in shares of Clearside Biomedical during the second quarter worth $368,000. Vanguard Group Inc. lifted its stake in shares of Clearside Biomedical by 14.5% in the first quarter. Vanguard Group Inc. now owns 2,490,796 shares of the company’s stock worth $3,811,000 after buying an additional 314,480 shares in the last quarter. SG Americas Securities LLC acquired a new position in Clearside Biomedical during the first quarter worth about $49,000. XTX Topco Ltd grew its stake in 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 acquiring an additional 34,359 shares in the last quarter. Finally, Renaissance Technologies LLC grew its stake in Clearside Biomedical by 6.6% during the 2nd quarter. Renaissance Technologies LLC now owns 582,689 shares of the company’s stock valued at $757,000 after acquiring an additional 35,900 shares in the last quarter. 18.75% of the stock is owned by institutional investors and hedge funds.

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.