Clearside Biomedical (NASDAQ:CLSD) Cut to Sell at StockNews.com

Clearside Biomedical (NASDAQ:CLSD - Get Free Report) was downgraded by equities research analysts at StockNews.com from a "hold" rating to a "sell" rating in a research note issued to investors on Friday.

Several other analysts have also issued reports on the company. Needham & Company LLC restated a "buy" rating and issued a $4.00 price objective on shares of Clearside Biomedical in a research note on Thursday, April 11th. HC Wainwright reaffirmed a "buy" rating and set a $6.00 price target on shares of Clearside Biomedical in a report on Thursday, March 14th. JMP Securities reiterated a "market outperform" rating and issued a $5.00 price objective on shares of Clearside Biomedical in a report on Wednesday, March 13th. Finally, Wedbush restated an "outperform" rating and set a $4.00 target price (down previously from $5.00) on shares of Clearside Biomedical in a research note on Wednesday, March 13th. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $4.75.

Clearside Biomedical Stock Performance

CLSD traded down $0.10 during trading on Friday, reaching $1.25. 286,228 shares of the stock were exchanged, compared to its average volume of 211,066. The stock has a market cap of $93.40 million, a P/E ratio of -2.36 and a beta of 2.35. The stock's 50 day moving average price is $1.44 and its two-hundred day moving average price is $1.25. Clearside Biomedical has a twelve month low of $0.65 and a twelve month high of $2.12.

Clearside Biomedical (NASDAQ:CLSD - Get Free Report) last released its quarterly earnings data on Thursday, May 9th. The company reported ($0.17) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($0.03). The firm had revenue of $0.23 million for the quarter, compared to the consensus estimate of $0.98 million. During the same quarter in the previous year, the company earned ($0.15) EPS. Equities research analysts predict that Clearside Biomedical will post -0.56 earnings per share for the current fiscal year.

Insider Transactions at Clearside Biomedical

In other Clearside Biomedical news, insider Ngai Hang Victor Chong purchased 30,000 shares of the stock in a transaction that occurred on Wednesday, March 20th. The shares were acquired at an average cost of $1.60 per share, with a total value of $48,000.00. Following the completion of the transaction, the insider now owns 30,000 shares in the company, valued at $48,000. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 9.80% of the company's stock.

Hedge Funds Weigh In On Clearside Biomedical

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC bought a new position in shares of Clearside Biomedical in the first quarter worth $49,000. International Assets Investment Management LLC acquired a new stake in Clearside Biomedical during the first quarter worth about $57,000. Vanguard Group Inc. increased its holdings in Clearside Biomedical by 14.5% in the 1st quarter. Vanguard Group Inc. now owns 2,490,796 shares of the company's stock valued at $3,811,000 after buying an additional 314,480 shares during the period. Finally, Rosalind Advisors Inc. bought a new stake in shares of Clearside Biomedical during the 1st quarter worth approximately $3,967,000. 18.75% of the stock is owned by institutional investors and hedge funds.

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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