Analysts Set Clearside Biomedical, Inc. (NASDAQ:CLSD) Price Target at $4.75

Shares of Clearside Biomedical, Inc. (NASDAQ:CLSD - Get Free Report) have been assigned an average rating of "Buy" from the four brokerages that are currently covering the stock, MarketBeat Ratings reports. Four research analysts have rated the stock with a buy rating. The average 12 month price target among analysts that have covered the stock in the last year is $4.75.

A number of analysts recently weighed in on CLSD shares. Wedbush reaffirmed an "outperform" rating and set a $4.00 target price (down previously from $5.00) on shares of Clearside Biomedical in a report on Wednesday, March 13th. HC Wainwright reissued a "buy" rating and issued a $6.00 price target on shares of Clearside Biomedical in a research note on Thursday, March 14th. Needham & Company LLC reissued a "buy" rating and issued a $4.00 price target on shares of Clearside Biomedical in a research note on Thursday, April 11th. StockNews.com raised shares of Clearside Biomedical from a "sell" rating to a "hold" rating in a research note on Saturday, February 10th. Finally, JMP Securities reissued a "market outperform" rating and issued a $5.00 price target on shares of Clearside Biomedical in a research note on Wednesday, March 13th.

Clearside Biomedical Stock Performance

Clearside Biomedical stock traded up $0.11 during midday trading on Wednesday, reaching $1.26. 329,243 shares of the stock were exchanged, compared to its average volume of 345,497. The company's fifty day moving average is $1.45 and its 200-day moving average is $1.20. The firm has a market cap of $94.15 million, a PE ratio of -2.38 and a beta of 2.29. Clearside Biomedical has a 52 week low of $0.65 and a 52 week high of $2.12.

Clearside Biomedical (NASDAQ:CLSD - Get Free Report) last posted its earnings results on Tuesday, March 12th. The company reported ($0.08) earnings per share for the quarter, topping analysts' consensus estimates of ($0.10) by $0.02. The firm had revenue of $6.35 million for the quarter, compared to the consensus estimate of $3.40 million. On average, sell-side analysts anticipate that Clearside Biomedical will post -0.56 earnings per share for the current fiscal year.

Insider Activity

In other Clearside Biomedical news, insider Ngai Hang Victor Chong acquired 30,000 shares of the business's stock in a transaction dated Wednesday, March 20th. The stock was bought at an average price of $1.60 per share, with a total value of $48,000.00. Following the purchase, the insider now owns 30,000 shares of the company's stock, valued at $48,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Clearside Biomedical news, insider Ngai Hang Victor Chong acquired 30,000 shares of the business's stock in a transaction dated Wednesday, March 20th. The stock was bought at an average price of $1.60 per share, with a total value of $48,000.00. Following the purchase, the insider now owns 30,000 shares of the company's stock, valued at $48,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Bradford T. Whitmore acquired 444,444 shares of the business's stock in a transaction dated Wednesday, February 7th. The stock was acquired at an average cost of $1.35 per share, with a total value of $599,999.40. Following the purchase, the insider now directly owns 4,495,034 shares in the company, valued at approximately $6,068,295.90. The disclosure for this purchase can be found here. 9.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Clearside Biomedical

Several institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in Clearside Biomedical by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 2,176,316 shares of the company's stock valued at $2,546,000 after buying an additional 9,431 shares during the period. Renaissance Technologies LLC raised its holdings in Clearside Biomedical by 101.5% in the 1st quarter. Renaissance Technologies LLC now owns 864,951 shares of the company's stock worth $1,981,000 after purchasing an additional 435,734 shares in the last quarter. BlackRock Inc. increased its stake in shares of Clearside Biomedical by 1.9% in the 2nd quarter. BlackRock Inc. now owns 813,310 shares of the company's stock worth $911,000 after acquiring an additional 14,789 shares in the last quarter. State Street Corp increased its stake in shares of Clearside Biomedical by 5.2% in the 1st quarter. State Street Corp now owns 193,363 shares of the company's stock worth $443,000 after acquiring an additional 9,475 shares in the last quarter. Finally, Bank of America Corp DE increased its stake in shares of Clearside Biomedical by 2,760.2% in the 1st quarter. Bank of America Corp DE now owns 120,500 shares of the company's stock worth $276,000 after acquiring an additional 116,287 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.