Clearside Biomedical, Inc. (NASDAQ:CLSD) Receives Consensus Recommendation of “Buy” from Brokerages

Shares of Clearside Biomedical, Inc. (NASDAQ:CLSD) have been given an average rating of “Buy” by the five brokerages that are presently covering the firm, MarketBeat reports. Five investment analysts have rated the stock with a buy rating. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $4.60.

A number of equities research analysts recently issued reports on CLSD shares. StockNews.com downgraded Clearside Biomedical from a “hold” rating to a “sell” rating in a research report on Friday, May 10th. Wedbush reissued an “outperform” rating and issued a $4.00 target price (down previously from $5.00) on shares of Clearside Biomedical in a report on Wednesday, March 13th. JMP Securities reaffirmed a “market outperform” rating and set a $5.00 price target on shares of Clearside Biomedical in a report on Wednesday, March 13th. Needham & Company LLC reaffirmed a “buy” rating and issued a $4.00 target price on shares of Clearside Biomedical in a report on Monday, May 13th. Finally, HC Wainwright cut their price target on Clearside Biomedical from $6.00 to $5.00 and set a “buy” rating on the stock in a research note on Monday, May 13th.

Clearside Biomedical Stock Up 1.6 %

CLSD stock opened at $1.30 on Tuesday. The business has a 50 day moving average price of $1.28 and a two-hundred day moving average price of $1.33. The company has a market cap of $97.15 million, a price-to-earnings ratio of -2.36 and a beta of 2.36. Clearside Biomedical has a twelve month low of $0.65 and a twelve month high of $2.12.

Clearside Biomedical (NASDAQ:CLSD) last announced its 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 company had revenue of $0.23 million for the quarter, compared to analyst estimates of $0.98 million. During the same period last year, the firm earned ($0.15) earnings per share. On average, equities research analysts anticipate that Clearside Biomedical will post -0.63 EPS for the current fiscal year.

Institutional Trading of Clearside Biomedical

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

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.