Clearside Biomedical's (CLSD) Buy Rating Reaffirmed at Needham & Company LLC

Clearside Biomedical (NASDAQ:CLSD - Get Free Report)'s stock had its "buy" rating reissued by stock analysts at Needham & Company LLC in a research note issued on Monday, Benzinga reports. They presently have a $4.00 target price on the stock. Needham & Company LLC's target price points to a potential upside of 225.20% from the stock's current price.

Other equities research analysts have also issued research reports about the stock. StockNews.com lowered shares of Clearside Biomedical from a "hold" rating to a "sell" rating in a report on Friday. HC Wainwright lowered their price objective on Clearside Biomedical from $6.00 to $5.00 and set a "buy" rating on the stock in a report on Monday. Wedbush reissued 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. Finally, JMP Securities reaffirmed a "market outperform" rating and issued a $5.00 price target on shares of Clearside Biomedical in a research note on Wednesday, March 13th. One investment analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $4.50.

Clearside Biomedical Price Performance

Clearside Biomedical stock traded down $0.02 during midday trading on Monday, reaching $1.23. The company's stock had a trading volume of 109,223 shares, compared to its average volume of 312,912. 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 P/E ratio of -2.24 and a beta of 2.35. The stock's 50-day simple moving average is $1.44 and its 200-day simple moving average is $1.27.

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

Insider Buying and Selling at Clearside Biomedical

In related news, insider Ngai Hang Victor Chong acquired 30,000 shares of the firm's stock in a transaction dated Wednesday, March 20th. The shares were purchased at an average cost of $1.60 per share, for a total transaction of $48,000.00. Following the acquisition, the insider now owns 30,000 shares in the company, valued at approximately $48,000. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 9.80% of the company's stock.

Hedge Funds Weigh In On Clearside Biomedical

Several hedge funds have recently bought and sold shares of the company. SG Americas Securities LLC purchased a new position in Clearside Biomedical during the 1st quarter valued at about $49,000. International Assets Investment Management LLC acquired a new stake in shares of Clearside Biomedical during the first quarter worth about $57,000. Vanguard Group Inc. boosted its stake in shares of Clearside Biomedical by 14.5% in the first quarter. Vanguard Group Inc. now owns 2,490,796 shares of the company's stock valued at $3,811,000 after purchasing an additional 314,480 shares during the period. Finally, Rosalind Advisors Inc. purchased a new position in shares of Clearside Biomedical in the first quarter valued at approximately $3,967,000. Institutional investors and hedge funds 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.