Clearside Biomedical, Inc. (NASDAQ:CLSD) Receives $5.33 Consensus PT from Analysts

Clearside Biomedical, Inc. (NASDAQ:CLSD) has been assigned a consensus recommendation of “Buy” from the six ratings firms that are currently covering the firm, Marketbeat Ratings reports. Six analysts have rated the stock with a buy recommendation. The average 1 year target price among brokers that have covered the stock in the last year is $5.33.

Several brokerages recently issued reports on CLSD. HC Wainwright restated a “buy” rating and set a $6.00 target price on shares of Clearside Biomedical in a research report on Thursday, November 14th. StockNews.com raised shares of Clearside Biomedical from a “sell” rating to a “hold” rating in a research report on Saturday, November 16th. Chardan Capital reiterated a “buy” rating and set a $6.00 target price on shares of Clearside Biomedical in a research report on Friday, November 15th. Finally, Needham & Company LLC reissued a “buy” rating and set a $6.00 price target on shares of Clearside Biomedical in a report on Wednesday, November 13th.

Clearside Biomedical Price Performance

NASDAQ CLSD opened at $1.07 on Friday. The stock has a market capitalization of $81.15 million, a price-to-earnings ratio of -2.38 and a beta of 2.33. Clearside Biomedical has a 1-year low of $0.92 and a 1-year high of $2.12. The business’s fifty day moving average price is $1.16 and its 200-day moving average price is $1.17.

Clearside Biomedical (NASDAQ:CLSD) last posted its earnings results on Tuesday, November 12th. The company reported ($0.10) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.04. The firm had revenue of $1.04 million during the quarter, compared to the consensus estimate of $0.25 million. During the same period in the prior year, the company posted ($0.15) EPS. Equities research analysts anticipate that Clearside Biomedical will post -0.48 EPS for the current year.

Insider Buying and Selling at Clearside Biomedical

In other Clearside Biomedical news, insider Ngai Hang Victor Chong bought 36,500 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The stock was purchased at an average price of $1.00 per share, for a total transaction of $36,500.00. Following the completion of the transaction, the insider now owns 100,000 shares of the company’s stock, valued at $100,000. This trade represents a 57.48 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 9.20% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Assenagon Asset Management S.A. bought a new stake in shares of Clearside Biomedical during the second quarter valued at approximately $368,000. Vanguard Group Inc. lifted its stake in Clearside Biomedical by 14.5% in the 1st 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 in the last quarter. SG Americas Securities LLC bought a new position in shares of Clearside Biomedical during the 1st quarter valued at about $49,000. XTX Topco Ltd grew its position in shares of Clearside Biomedical by 172.2% during the second quarter. XTX Topco Ltd now owns 54,313 shares of the company’s stock valued at $71,000 after purchasing an additional 34,359 shares in the last quarter. Finally, Renaissance Technologies LLC increased its holdings in shares of Clearside Biomedical by 6.6% in the second quarter. Renaissance Technologies LLC now owns 582,689 shares of the company’s stock worth $757,000 after purchasing an additional 35,900 shares during the last quarter. 18.75% of the stock is currently owned by institutional investors.

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.