S&P 500   3,768.25
DOW   30,814.26
QQQ   311.86
S&P 500   3,768.25
DOW   30,814.26
QQQ   311.86
S&P 500   3,768.25
DOW   30,814.26
QQQ   311.86
S&P 500   3,768.25
DOW   30,814.26
QQQ   311.86
Log in

Clearside Biomedical (NASDAQ:CLSD) Lifted to Buy at Zacks Investment Research

Last updated on Wednesday, January 13, 2021 | 2021 MarketBeat

Clearside Biomedical (NASDAQ:CLSD) was upgraded by Zacks Investment Research from a "sell" rating to a "buy" rating in a research note issued on Wednesday, Zacks.com reports. The firm currently has a $4.00 price objective on the stock. Zacks Investment Research's price objective suggests a potential upside of 1.27% from the company's previous close.

According to Zacks, "Clearside Biomedical, Inc. is a biopharmaceutical company is engaged in developing first-in-class drug therapies to treat blinding diseases of the eye using Clearside proprietary suprachoroidal space(TM) microinjector. Its products include CLS-1001 for the treatment of macular edema associated with non-infectious uveitis; CLS-1003 for the treatment of macular edema associated with retinal vein occlusion; and CLS-1002 program for the treatment of wet age-related macular degeneration. Clearside Biomedical, Inc. is headquartered in Alpharetta, Georgia. "

A number of other analysts have also issued reports on CLSD. ValuEngine lowered Clearside Biomedical from a "buy" rating to a "hold" rating in a research note on Tuesday, January 5th. Needham & Company LLC reissued a "hold" rating on shares of Clearside Biomedical in a research note on Wednesday, November 11th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company currently has a consensus rating of "Buy" and an average price target of $5.75.

Shares of NASDAQ:CLSD traded up $0.35 during trading on Wednesday, reaching $3.95. 1,509,930 shares of the company were exchanged, compared to its average volume of 2,150,434. The firm has a market capitalization of $191.00 million, a PE ratio of -12.34 and a beta of 1.42. The business's fifty day simple moving average is $2.35 and its 200-day simple moving average is $1.83. Clearside Biomedical has a 12-month low of $1.10 and a 12-month high of $4.13. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.95 and a quick ratio of 1.95.

Clearside Biomedical (NASDAQ:CLSD) last issued its earnings results on Sunday, November 15th. The company reported ($0.05) EPS for the quarter, topping the Zacks' consensus estimate of ($0.12) by $0.07. The business had revenue of $3.43 million for the quarter, compared to analyst estimates of $0.70 million. Clearside Biomedical had a negative net margin of 144.47% and a negative return on equity of 153.41%. On average, sell-side analysts anticipate that Clearside Biomedical will post -0.37 EPS for the current fiscal year.

In related news, major shareholder Bradford T. Whitmore bought 51,195 shares of the company's stock in a transaction that occurred on Thursday, December 24th. The shares were acquired at an average cost of $1.95 per share, for a total transaction of $99,830.25. Following the acquisition, the insider now owns 3,179,095 shares in the company, valued at approximately $6,199,235.25. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Bradford T. Whitmore bought 62,000 shares of the company's stock in a transaction that occurred on Tuesday, November 24th. The shares were bought at an average price of $1.65 per share, for a total transaction of $102,300.00. Following the completion of the acquisition, the insider now owns 3,074,000 shares in the company, valued at approximately $5,072,100. The disclosure for this purchase can be found here. Insiders bought a total of 579,845 shares of company stock worth $1,411,653 over the last ninety days. Corporate insiders own 13.10% of the company's stock.

Large investors have recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. acquired a new position in Clearside Biomedical during the 2nd quarter worth $50,000. Squarepoint Ops LLC acquired a new stake in Clearside Biomedical in the third quarter valued at approximately $51,000. Principal Financial Group Inc. acquired a new stake in Clearside Biomedical in the second quarter valued at approximately $67,000. Jane Street Group LLC boosted its position in Clearside Biomedical by 33.8% in the second quarter. Jane Street Group LLC now owns 55,348 shares of the company's stock valued at $104,000 after buying an additional 13,982 shares in the last quarter. Finally, Bridgeway Capital Management Inc. boosted its position in Clearside Biomedical by 104.4% in the second quarter. Bridgeway Capital Management Inc. now owns 184,000 shares of the company's stock valued at $346,000 after buying an additional 94,000 shares in the last quarter. Institutional investors and hedge funds own 24.77% of the company's stock.

Clearside Biomedical Company Profile

Clearside Biomedical, Inc, a biopharmaceutical company, develops and delivers treatment that restore and preserve vision for people with serious eye diseases. Its preclinical products include CLS-AX, an axitinib for suprachoroidal injection. It also develops XIPERE, a triamcinolone acetonide suprachoroidal injectable suspension for the treatment of macular edema associated with uveitis, diabetic macular edema, and macular edema associated with retinal vein occlusion.

Recommended Story: Analyst Ratings Trading

Get a free copy of the Zacks research report on Clearside Biomedical (CLSD)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]


7 Cloud Computing Stocks to Lift Your Portfolio to New Heights

Cloud computing sounds complicated, and it has become more sophisticated as it evolves. However, the basic idea behind the cloud is the same. The “cloud” is a euphemistic term for the delivery of different services via the internet. In its early days, the cloud was used exclusively for data storage. Here’s an easy example of why this was important.

Back when the internet was cutting its teeth, I worked in marketing communications. The need to comply with Total Quality Control Systems (TQCS) for our largest clients meant we had to save every version of our files. Every. Single. One. Now imagine that you’re producing a 120-page product catalog complete with photos and charts. Your hard drive is burning up just thinking about it. Yet that “data” had to be stored somewhere. And so we had a virtual server farm to try to warehouse all these graphic intensive (and memory sucking) files until we could archive them.

Other than the storage nightmare, consider that it was a pain to work remotely. You could copy a file from the server, but then were you working on the right file? I’m sure at least one person is reading this who remembers this pain.

The cloud takes that away. Cloud computing allows you to store files on a secure, remote server that everyone can access anywhere they have an internet connection. But it’s become so much more than that. Cloud computing now gives businesses a platform from which they can create applications and software. If that sounds confusing, I hope to simplify it in this presentation. To help you understand which cloud computing stocks, you may want to add to your portfolio, and we’ve created this special presentation. These are seven of the cloud computing stocks that will continue to grow with the sector.

View the "7 Cloud Computing Stocks to Lift Your Portfolio to New Heights".

Free Email Newsletter

Complete the form below to receive the latest headlines and analysts' recommendations for your stocks with our free daily email newsletter:

Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.