Clearside Biomedical (NASDAQ:CLSD) Cut to Neutral at Chardan Capital

Clearside Biomedical (NASDAQ:CLSD - Get Free Report) was downgraded by analysts at Chardan Capital from a "buy" rating to a "neutral" rating in a research report issued to clients and investors on Friday, MarketBeat Ratings reports.

CLSD has been the subject of several other reports. HC Wainwright lowered shares of Clearside Biomedical from a "buy" rating to a "neutral" rating and set a $5.00 target price for the company. in a research report on Friday. JMP Securities reissued a "market outperform" rating and set a $5.00 price target on shares of Clearside Biomedical in a research note on Friday, May 16th. Wall Street Zen raised shares of Clearside Biomedical from a "sell" rating to a "hold" rating in a research note on Saturday, May 17th. Needham & Company LLC downgraded shares of Clearside Biomedical from a "moderate buy" rating to a "hold" rating and set a $3.00 target price on the stock. in a research note on Thursday. Finally, Stifel Nicolaus downgraded shares of Clearside Biomedical from a "buy" rating to a "hold" rating and set a $2.00 price objective on the stock. in a research report on Friday. Six equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $4.20.

Clearside Biomedical Price Performance

Shares of Clearside Biomedical stock traded down $0.19 during trading on Friday, reaching $0.41. 3,609,580 shares of the company traded hands, compared to its average volume of 389,652. Clearside Biomedical has a 1-year low of $0.32 and a 1-year high of $1.65. The company has a 50 day moving average price of $0.81 and a 200-day moving average price of $0.88. The firm has a market capitalization of $31.86 million, a PE ratio of -1.00 and a beta of 2.05.

Clearside Biomedical (NASDAQ:CLSD - Get Free Report) last announced its earnings results on Wednesday, May 14th. The company reported ($0.11) EPS for the quarter, beating the consensus estimate of ($0.12) by $0.01. The firm had revenue of $2.33 million during the quarter, compared to analysts' expectations of $0.20 million. Equities research analysts expect that Clearside Biomedical will post -0.48 earnings per share for the current year.

Institutional Investors Weigh In On Clearside Biomedical

A number of hedge funds have recently bought and sold shares of CLSD. Geode Capital Management LLC raised its holdings in Clearside Biomedical by 4.5% during the fourth quarter. Geode Capital Management LLC now owns 764,058 shares of the company's stock worth $726,000 after purchasing an additional 32,672 shares during the last quarter. Northern Trust Corp increased its stake in Clearside Biomedical by 24.0% in the fourth quarter. Northern Trust Corp now owns 165,499 shares of the company's stock valued at $157,000 after purchasing an additional 32,048 shares during the last quarter. Finally, Investor s Fiduciary Advisor Network LLC acquired a new position in Clearside Biomedical in the fourth quarter valued at $32,000. Institutional investors and hedge funds own 18.75% of the company's stock.

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.