Clearside Biomedical (NASDAQ:CLSD) Given “Buy” Rating at Needham & Company LLC

Clearside Biomedical (NASDAQ:CLSD)‘s stock had its “buy” rating reaffirmed by Needham & Company LLC in a research note issued to investors on Thursday,Benzinga reports. They currently have a $6.00 price objective on the stock.

CLSD has been the topic of a number of other research reports. HC Wainwright reaffirmed a “buy” rating and issued a $6.00 price target on shares of Clearside Biomedical in a research note on Thursday, November 14th. Chardan Capital reaffirmed a “buy” rating and issued a $6.00 price objective on shares of Clearside Biomedical in a research report on Friday, November 15th. Finally, StockNews.com upgraded Clearside Biomedical from a “sell” rating to a “hold” rating in a report on Thursday, December 12th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $5.33.

Clearside Biomedical Stock Performance

NASDAQ:CLSD traded up $0.11 on Thursday, reaching $0.96. The company’s stock had a trading volume of 804,558 shares, compared to its average volume of 399,340. Clearside Biomedical has a 1-year low of $0.77 and a 1-year high of $2.12. The business’s 50-day moving average price is $0.96 and its two-hundred day moving average price is $1.06. The firm has a market cap of $72.81 million, a PE ratio of -2.13 and a beta of 2.10.

Hedge Funds Weigh In On Clearside Biomedical

Several hedge funds have recently modified their holdings of the stock. Geode Capital Management LLC raised its holdings in Clearside Biomedical by 8.8% during the third quarter. Geode Capital Management LLC now owns 731,386 shares of the company’s stock worth $929,000 after acquiring an additional 59,089 shares in the last quarter. Johnson & Johnson bought a new stake in shares of Clearside Biomedical during the 3rd quarter worth approximately $105,000. Northern Trust Corp raised its stake in shares of Clearside Biomedical by 24.0% during the 4th quarter. Northern Trust Corp now owns 165,499 shares of the company’s stock worth $157,000 after purchasing an additional 32,048 shares in the last quarter. Finally, Investor s Fiduciary Advisor Network LLC acquired a new stake in shares of Clearside Biomedical in the 4th quarter valued at approximately $32,000. Institutional investors 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.