Clearside Biomedical (NASDAQ:CLSD) Downgraded to Hold Rating by Stifel Nicolaus

Stifel Nicolaus downgraded shares of Clearside Biomedical (NASDAQ:CLSD - Free Report) from a buy rating to a hold rating in a research report released on Friday morning, Marketbeat Ratings reports. Stifel Nicolaus currently has $2.00 price objective on the stock.

CLSD has been the subject of several other reports. Chardan Capital reiterated a "buy" rating and set a $6.00 price objective on shares of Clearside Biomedical in a research report on Friday, March 28th. Needham & Company LLC cut Clearside Biomedical from a "moderate buy" rating to a "hold" rating and set a $3.00 target price on the stock. in a report on Thursday. Wall Street Zen raised Clearside Biomedical from a "sell" rating to a "hold" rating in a report on Saturday, May 17th. HC Wainwright cut Clearside Biomedical from a "buy" rating to a "neutral" rating and set a $5.00 target price on the stock. in a report on Friday. Finally, JMP Securities reissued a "market outperform" rating and set a $5.00 target price on shares of Clearside Biomedical in a report on Friday, May 16th. Six research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $4.20.

Clearside Biomedical Stock Performance

Clearside Biomedical stock traded down $0.19 during midday trading on Friday, reaching $0.41. The stock had a trading volume of 3,609,580 shares, compared to its average volume of 389,652. Clearside Biomedical has a twelve month low of $0.32 and a twelve month high of $1.65. The stock has a market capitalization of $31.86 million, a PE ratio of -1.00 and a beta of 2.05. The stock's 50-day simple moving average is $0.81 and its 200 day simple moving average is $0.88.

Clearside Biomedical (NASDAQ:CLSD - Get Free Report) last announced its earnings results on Wednesday, May 14th. The company reported ($0.11) earnings per share (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 analysts' expectations of $0.20 million. Equities analysts predict that Clearside Biomedical will post -0.48 earnings per share for the current fiscal year.

Institutional Trading of Clearside Biomedical

Several large investors have recently added to or reduced their stakes in the company. Northern Trust Corp boosted 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 acquiring an additional 32,048 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of 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 acquiring an additional 32,672 shares during the period. Finally, Investor s Fiduciary Advisor Network LLC acquired a new stake in Clearside Biomedical in the 4th quarter valued at $32,000. 18.75% of the stock is owned by institutional investors.

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.