Clearside Biomedical, Inc. (NASDAQ:CLSD) Receives Average Rating of “Buy” from Analysts

Shares of Clearside Biomedical, Inc. (NASDAQ:CLSD) have been given a consensus recommendation of “Buy” by the six brokerages that are presently covering the firm, MarketBeat.com reports. Six research analysts have rated the stock with a buy rating. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $5.33.

Several equities analysts recently issued reports on the stock. Chardan Capital reissued a “buy” rating and set a $6.00 price objective on shares of Clearside Biomedical in a report on Friday, November 15th. Needham & Company LLC reissued a “buy” rating and issued a $6.00 price target on shares of Clearside Biomedical in a research report on Wednesday, November 13th. HC Wainwright restated a “buy” rating and set a $6.00 price objective on shares of Clearside Biomedical in a research note on Thursday, November 14th. Finally, StockNews.com upgraded Clearside Biomedical from a “sell” rating to a “hold” rating in a research note on Thursday, December 12th.

Insider Transactions at Clearside Biomedical

In related news, insider Ngai Hang Victor Chong acquired 36,500 shares of the stock in a transaction dated Friday, November 1st. The stock was acquired at an average cost of $1.00 per share, for a total transaction of $36,500.00. Following the completion of the purchase, the insider now owns 100,000 shares of the company’s stock, valued at approximately $100,000. This represents a 57.48 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 9.20% of the company’s stock.

Hedge Funds Weigh In On Clearside Biomedical

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CLSD. XTX Topco Ltd raised its stake in shares of Clearside Biomedical by 172.2% in the second quarter. XTX Topco Ltd now owns 54,313 shares of the company’s stock worth $71,000 after purchasing an additional 34,359 shares during the last quarter. Johnson & Johnson purchased a new position in Clearside Biomedical during the 3rd quarter worth approximately $105,000. Assenagon Asset Management S.A. acquired a new stake in Clearside Biomedical during the 2nd quarter valued at approximately $368,000. Renaissance Technologies LLC boosted its holdings 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 valued at $757,000 after acquiring an additional 35,900 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake 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 worth $929,000 after acquiring an additional 59,089 shares during the period. Hedge funds and other institutional investors own 18.75% of the company’s stock.

Clearside Biomedical Price Performance

Shares of CLSD opened at $0.87 on Tuesday. The firm has a market capitalization of $66.16 million, a price-to-earnings ratio of -1.94 and a beta of 2.29. Clearside Biomedical has a 1-year low of $0.80 and a 1-year high of $2.12. The company has a 50-day moving average of $1.06 and a 200 day moving average of $1.13.

Clearside Biomedical (NASDAQ:CLSD) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.10) EPS for the quarter, topping 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 quarter in the previous year, the business earned ($0.15) earnings per share. On average, equities analysts anticipate that Clearside Biomedical will post -0.48 earnings per share for the current fiscal year.

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.