HC Wainwright Has Lowered Expectations for Clearside Biomedical (NASDAQ:CLSD) Stock Price

Clearside Biomedical (NASDAQ:CLSD - Get Free Report) had its target price reduced by analysts at HC Wainwright from $6.00 to $5.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has a "buy" rating on the stock. HC Wainwright's price target indicates a potential upside of 483.43% from the company's previous close.

Several other brokerages have also weighed in on CLSD. Needham & Company LLC cut their price objective on shares of Clearside Biomedical from $4.00 to $3.00 and set a "buy" rating for the company in a report on Thursday, May 15th. Chardan Capital reaffirmed a "buy" rating and issued a $6.00 price target on shares of Clearside Biomedical in a report on Friday, March 28th. Wall Street Zen upgraded Clearside Biomedical from a "sell" rating to a "hold" rating in a research note on Saturday, May 17th. Finally, JMP Securities reissued a "market outperform" rating and set a $5.00 price objective on shares of Clearside Biomedical in a report on Friday, May 16th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $4.80.

Clearside Biomedical Trading Down 1.0%

Clearside Biomedical stock traded down $0.01 during trading on Friday, hitting $0.86. 21,233 shares of the company were exchanged, compared to its average volume of 339,196. The business's 50 day moving average is $0.88 and its 200 day moving average is $0.95. The company has a market capitalization of $66.60 million, a P/E ratio of -1.90 and a beta of 2.11. Clearside Biomedical has a 52 week low of $0.70 and a 52 week high of $1.65.

Clearside Biomedical (NASDAQ:CLSD - Get Free Report) last issued its quarterly earnings results on Wednesday, May 14th. The company reported ($0.11) EPS for the quarter, beating 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 expect that Clearside Biomedical will post -0.48 EPS for the current year.

Institutional Investors Weigh In On Clearside Biomedical

A number of institutional investors have recently made changes to their positions in the company. Investor s Fiduciary Advisor Network LLC purchased a new stake in Clearside Biomedical during the 4th quarter valued at $32,000. Northern Trust Corp boosted its stake 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 buying an additional 32,048 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake 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 in the last quarter. Hedge funds and other institutional investors 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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