Clearside Biomedical (NASDAQ:CLSD) Raised to Hold at StockNews.com

Clearside Biomedical (NASDAQ:CLSD - Get Free Report) was upgraded by equities researchers at StockNews.com from a "sell" rating to a "hold" rating in a research report issued to clients and investors on Saturday.

CLSD has been the subject of several other research reports. HC Wainwright reiterated a "buy" rating and set a $6.00 price target on shares of Clearside Biomedical in a research report on Monday, March 31st. Needham & Company LLC lowered their price target on shares of Clearside Biomedical from $4.00 to $3.00 and set a "buy" rating for the company in a research report on Thursday. JMP Securities reiterated a "market outperform" rating and set a $5.00 price target on shares of Clearside Biomedical in a research report on Friday. Finally, Chardan Capital reiterated a "buy" rating and set a $6.00 price target on shares of Clearside Biomedical in a research report on Friday, March 28th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $5.00.

Clearside Biomedical Stock Up 1.7%

Shares of CLSD stock opened at $0.88 on Friday. Clearside Biomedical has a 12-month low of $0.70 and a 12-month high of $1.65. The company has a market capitalization of $67.92 million, a P/E ratio of -1.95 and a beta of 2.11. The firm has a 50-day moving average price of $0.88 and a 200 day moving average price of $0.95.

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

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of CLSD. Investor s Fiduciary Advisor Network LLC acquired a new position in Clearside Biomedical during the fourth quarter valued at approximately $32,000. Geode Capital Management LLC grew 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 valued at $726,000 after purchasing an additional 32,672 shares during the period. Finally, Northern Trust Corp grew its holdings in Clearside Biomedical by 24.0% during 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 period. Institutional investors and hedge funds own 18.75% of the company's stock.

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.

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