Clearside Biomedical (NASDAQ:CLSD) Stock Price Up 0.3% - Should You Buy?

Clearside Biomedical, Inc. (NASDAQ:CLSD - Get Free Report) traded up 0.3% on Monday . The stock traded as high as $0.84 and last traded at $0.82. 116,706 shares traded hands during trading, a decline of 68% from the average session volume of 360,639 shares. The stock had previously closed at $0.81.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. Needham & Company LLC reduced their price objective on Clearside Biomedical from $4.00 to $3.00 and set a "buy" rating on the stock in a research note on Thursday, May 15th. HC Wainwright lowered their price target on Clearside Biomedical from $6.00 to $5.00 and set a "buy" rating for the company in a research note on Friday, May 23rd. JMP Securities reissued a "market outperform" rating and issued a $5.00 target price on shares of Clearside Biomedical in a research note on Friday, May 16th. Chardan Capital restated a "buy" rating and set a $6.00 price objective on shares of Clearside Biomedical in a report on Friday, March 28th. Finally, Wall Street Zen upgraded Clearside Biomedical from a "sell" rating to a "hold" rating in a research note on Saturday, May 17th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $4.75.

Clearside Biomedical Stock Performance

The firm's fifty day moving average is $0.82 and its 200 day moving average is $0.89. The firm has a market cap of $68.38 million, a P/E ratio of -2.15 and a beta of 2.05.

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

Hedge Funds Weigh In On Clearside Biomedical

Hedge funds and other institutional investors have recently modified their holdings of the business. Geode Capital Management LLC lifted its holdings in shares of 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 acquiring an additional 32,672 shares during the last quarter. Northern Trust Corp increased its stake in shares of 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 buying an additional 32,048 shares during the period. Finally, Investor s Fiduciary Advisor Network LLC bought a new stake in Clearside Biomedical during the 4th quarter worth approximately $32,000. Institutional investors 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.