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

Clearside Biomedical (NASDAQ:CLSD - Free Report) had its target price trimmed by HC Wainwright from $6.00 to $5.00 in a research note released on Friday,Benzinga reports. The firm currently has a buy rating on the stock.

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

Clearside Biomedical Price Performance

NASDAQ CLSD traded down $0.03 on Friday, reaching $0.79. The company had a trading volume of 316,241 shares, compared to its average volume of 341,155. The firm has a market capitalization of $61.13 million, a PE ratio of -1.75 and a beta of 2.11. The firm has a 50-day moving average of $0.87 and a 200-day moving average of $0.94. Clearside Biomedical has a 1 year low of $0.70 and a 1 year high of $1.65.

Clearside Biomedical (NASDAQ:CLSD - Get Free Report) last announced its earnings results 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 during the quarter, compared to analysts' expectations of $0.20 million. As a group, sell-side analysts expect that Clearside Biomedical will post -0.48 EPS for the current fiscal year.

Hedge Funds Weigh In On Clearside Biomedical

Large investors have recently added to or reduced their stakes in the company. Investor s Fiduciary Advisor Network LLC bought a new position in shares of Clearside Biomedical in the 4th quarter worth about $32,000. Northern Trust Corp lifted its position in shares of Clearside Biomedical by 24.0% in 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 last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Clearside Biomedical by 4.5% in the 4th quarter. Geode Capital Management LLC now owns 764,058 shares of the company's stock worth $726,000 after buying an additional 32,672 shares during the last quarter. 18.75% of the stock is currently 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.