HC Wainwright Cuts Clearside Biomedical (NASDAQ:CLSD) Price Target to $5.00

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

Several other analysts also recently issued reports on CLSD. JMP Securities reissued a market outperform rating and issued a $5.00 price target on shares of Clearside Biomedical in a report on Wednesday, March 13th. StockNews.com downgraded shares of Clearside Biomedical from a hold rating to a sell rating in a report on Friday. Wedbush restated an outperform rating and set a $4.00 price target (down previously from $5.00) on shares of Clearside Biomedical in a research report on Wednesday, March 13th. Finally, Needham & Company LLC reiterated a buy rating and issued a $4.00 price objective on shares of Clearside Biomedical in a research report on Thursday, April 11th. One analyst has rated the stock with a sell rating and four have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of Moderate Buy and an average target price of $4.50.

Clearside Biomedical Stock Down 1.6 %

CLSD stock traded down $0.02 during trading on Monday, hitting $1.23. 109,223 shares of the company's stock traded hands, compared to its average volume of 312,912. The stock has a fifty day moving average price of $1.44 and a two-hundred day moving average price of $1.27. Clearside Biomedical has a 52 week low of $0.65 and a 52 week high of $2.12. The stock has a market capitalization of $91.91 million, a price-to-earnings ratio of -2.24 and a beta of 2.35.

Clearside Biomedical (NASDAQ:CLSD - Get Free Report) last announced its quarterly earnings data on Thursday, May 9th. The company reported ($0.17) earnings per share for the quarter, missing analysts' consensus estimates of ($0.14) by ($0.03). The company had revenue of $0.23 million for the quarter, compared to analyst estimates of $0.98 million. During the same period in the previous year, the company posted ($0.15) earnings per share. As a group, equities research analysts expect that Clearside Biomedical will post -0.56 EPS for the current fiscal year.

Insider Buying and Selling at Clearside Biomedical

In related news, insider Ngai Hang Victor Chong bought 30,000 shares of the firm's stock in a transaction that occurred on Wednesday, March 20th. The stock was purchased at an average price of $1.60 per share, for a total transaction of $48,000.00. Following the transaction, the insider now directly owns 30,000 shares of the company's stock, valued at approximately $48,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 9.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Clearside Biomedical

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

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.