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

Clearside Biomedical, Inc. (NASDAQ:CLSD - Get Free Report) shot up 0.3% on Monday . The company 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.

Wall Street Analysts Forecast Growth

CLSD has been the topic of a number of recent research reports. 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. HC Wainwright lowered their price objective on Clearside Biomedical from $6.00 to $5.00 and set a "buy" rating on the stock in a research note on Friday, May 23rd. Needham & Company LLC lowered 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. 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. 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 issued a buy rating to the stock. According to data from MarketBeat, Clearside Biomedical has a consensus rating of "Moderate Buy" and an average price target of $4.75.

Clearside Biomedical Trading Down 0.5%

The company has a market cap of $68.04 million, a P/E ratio of -2.14 and a beta of 2.05. The company has a 50 day moving average price of $0.82 and a 200-day moving average price of $0.89.

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, beating the consensus estimate of ($0.12) by $0.01. The firm had revenue of $2.33 million for the quarter, compared to analyst estimates of $0.20 million. Equities analysts expect that Clearside Biomedical, Inc. will post -0.48 earnings per share for the current year.

Institutional Investors Weigh In On Clearside Biomedical

Several hedge funds have recently modified their holdings of the company. Investor s Fiduciary Advisor Network LLC bought a new stake in shares of Clearside Biomedical in the 4th quarter valued at about $32,000. Northern Trust Corp raised its stake in 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 buying an additional 32,048 shares during the period. Finally, Geode Capital Management LLC increased its holdings in Clearside Biomedical by 4.5% during the 4th 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 in the last quarter. 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.