Clearside Biomedical (NASDAQ:CLSD) Upgraded to "Hold" at Wall Street Zen

Wall Street Zen upgraded shares of Clearside Biomedical (NASDAQ:CLSD - Free Report) from a sell rating to a hold rating in a research report released on Saturday.

Other equities research analysts have also issued research reports about the company. Chardan Capital restated a "buy" rating and set a $6.00 price objective on shares of Clearside Biomedical in a research note on Friday, March 28th. JMP Securities restated a "market outperform" rating and set a $5.00 price objective on shares of Clearside Biomedical in a research note on Friday, May 16th. Needham & Company LLC lowered their price objective on Clearside Biomedical from $4.00 to $3.00 and set a "buy" rating for the company in a research note on Thursday, May 15th. Finally, HC Wainwright restated a "buy" rating and set a $6.00 price objective on shares of Clearside Biomedical in a research note on Monday, March 31st. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Clearside Biomedical currently has a consensus rating of "Moderate Buy" and a consensus price target of $5.00.

Clearside Biomedical Trading Up 2.5%

NASDAQ:CLSD traded up $0.02 during mid-day trading on Friday, hitting $0.87. The company had a trading volume of 82,515 shares, compared to its average volume of 340,464. The business has a fifty day simple moving average of $0.88 and a 200-day simple moving average of $0.95. Clearside Biomedical has a 1 year low of $0.70 and a 1 year high of $1.65. The firm has a market capitalization of $66.89 million, a price-to-earnings ratio of -1.92 and a beta of 2.11.

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

Hedge Funds Weigh In On Clearside Biomedical

Hedge funds and other institutional investors have recently made changes to their positions in the business. Investor s Fiduciary Advisor Network LLC acquired a new stake in Clearside Biomedical in the fourth quarter worth approximately $32,000. Northern Trust Corp lifted its position in Clearside Biomedical by 24.0% in the fourth 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 period. Finally, Geode Capital Management LLC lifted its position in Clearside Biomedical by 4.5% in 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 period. 18.75% of the stock is currently 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.