Clearside Biomedical, Inc. (NASDAQ:CLSD) Receives Consensus Rating of "Buy" from Analysts

Shares of Clearside Biomedical, Inc. (NASDAQ:CLSD - Get Free Report) have been assigned a consensus recommendation of "Buy" from the five analysts that are presently covering the stock, Marketbeat.com reports. Five research analysts have rated the stock with a buy rating. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $4.80.

Several equities analysts recently weighed in on the stock. HC Wainwright dropped their price target on shares of Clearside Biomedical from $6.00 to $5.00 and set a "buy" rating on the stock in a research report on Friday, May 23rd. Needham & Company LLC decreased their price target on Clearside Biomedical from $4.00 to $3.00 and set a "buy" rating for the company in a report on Thursday, May 15th. Chardan Capital reaffirmed a "buy" rating and set a $6.00 price objective on shares of Clearside Biomedical in a report on Friday, March 28th. Wall Street Zen upgraded shares of Clearside Biomedical from a "sell" rating to a "hold" rating in a report on Saturday, May 17th. Finally, JMP Securities restated a "market outperform" rating and set a $5.00 price target on shares of Clearside Biomedical in a report on Friday, May 16th.

Hedge Funds Weigh In On Clearside Biomedical

Several institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC boosted its stake in 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 acquiring an additional 32,672 shares during the last quarter. Northern Trust Corp increased its stake in shares of Clearside Biomedical by 24.0% during the 4th quarter. Northern Trust Corp now owns 165,499 shares of the company's stock worth $157,000 after purchasing an additional 32,048 shares during the last quarter. Finally, Investor s Fiduciary Advisor Network LLC bought a new stake in shares of Clearside Biomedical in the 4th quarter worth approximately $32,000. Institutional investors own 18.75% of the company's stock.

Clearside Biomedical Trading Down 1.0%

Shares of CLSD traded down $0.01 during trading hours on Tuesday, reaching $0.80. The stock had a trading volume of 186,601 shares, compared to its average volume of 360,459. Clearside Biomedical has a 12 month low of $0.70 and a 12 month high of $1.65. The firm has a 50-day simple moving average of $0.83 and a 200 day simple moving average of $0.92. The company has a market capitalization of $62.17 million, a price-to-earnings ratio of -1.78 and a beta of 2.06.

Clearside Biomedical (NASDAQ:CLSD - Get Free Report) last released its quarterly earnings data on Wednesday, May 14th. The company reported ($0.11) earnings per share for the quarter, topping the consensus estimate of ($0.12) by $0.01. The business had revenue of $2.33 million for the quarter, compared to analyst estimates of $0.20 million. On average, equities analysts forecast that Clearside Biomedical will post -0.48 EPS for the current year.

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.