Brokerages Set Clearside Biomedical, Inc. (NASDAQ:CLSD) Price Target at $5.33

Shares of Clearside Biomedical, Inc. (NASDAQ:CLSD) have been given a consensus recommendation of “Buy” by the six brokerages that are presently covering the company, Marketbeat Ratings reports. Six research analysts have rated the stock with a buy rating. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $5.33.

A number of analysts have recently issued reports on CLSD shares. HC Wainwright reaffirmed a “buy” rating and set a $6.00 target price on shares of Clearside Biomedical in a research report on Thursday, November 14th. Chardan Capital reiterated a “buy” rating and set a $6.00 target price on shares of Clearside Biomedical in a research note on Friday, November 15th. StockNews.com raised shares of Clearside Biomedical from a “sell” rating to a “hold” rating in a research report on Thursday, December 12th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $6.00 price target on shares of Clearside Biomedical in a report on Wednesday, November 13th.

Clearside Biomedical Stock Performance

Clearside Biomedical stock opened at $1.13 on Wednesday. The firm has a market capitalization of $85.70 million, a PE ratio of -2.51 and a beta of 2.22. Clearside Biomedical has a one year low of $0.80 and a one year high of $2.12. The stock’s 50 day moving average price is $0.97 and its 200 day moving average price is $1.07.

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

Hedge Funds Weigh In On Clearside Biomedical

A number of hedge funds have recently added to or reduced their stakes in the business. Johnson & Johnson acquired a new stake in shares of Clearside Biomedical during the third quarter worth $105,000. Renaissance Technologies LLC boosted its holdings in shares of Clearside Biomedical by 6.6% in the 2nd quarter. Renaissance Technologies LLC now owns 582,689 shares of the company’s stock valued at $757,000 after buying an additional 35,900 shares during the period. Finally, Geode Capital Management LLC grew its position in shares of Clearside Biomedical by 8.8% during the 3rd quarter. Geode Capital Management LLC now owns 731,386 shares of the company’s stock valued at $929,000 after buying an additional 59,089 shares during the last quarter. Institutional investors and hedge funds own 18.75% of the company’s stock.

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.