Clearside Biomedical (NASDAQ:CLSD) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Clearside Biomedical (NASDAQ:CLSD) from a sell rating to a hold rating in a report released on Thursday morning.

Several other research firms have also weighed in on CLSD. Needham & Company LLC reissued a “buy” rating and set a $6.00 price target on shares of Clearside Biomedical in a research report on Wednesday, November 13th. Chardan Capital reiterated a “buy” rating and issued a $6.00 target price on shares of Clearside Biomedical in a report on Friday, November 15th. Finally, HC Wainwright reissued a “buy” rating and issued a $6.00 price target on shares of Clearside Biomedical in a research report on Thursday, November 14th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $5.33.

Clearside Biomedical Price Performance

Clearside Biomedical stock opened at $1.02 on Thursday. The company has a market cap of $77.36 million, a P/E ratio of -2.27 and a beta of 2.29. Clearside Biomedical has a fifty-two week low of $0.92 and a fifty-two week high of $2.12. The firm’s 50 day simple moving average is $1.11 and its 200-day simple moving average is $1.15.

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

Insider Buying and Selling at Clearside Biomedical

In other Clearside Biomedical news, insider Ngai Hang Victor Chong acquired 36,500 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The shares were purchased at an average price of $1.00 per share, with a total value of $36,500.00. Following the completion of the transaction, the insider now owns 100,000 shares in the company, valued at $100,000. The trade was a 57.48 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 9.20% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in shares of Clearside Biomedical by 14.5% in the 1st 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 last quarter. 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 valued at $929,000 after buying an additional 59,089 shares in the last quarter. Renaissance Technologies LLC raised its holdings in Clearside Biomedical by 6.6% during the second 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 in the last quarter. Assenagon Asset Management S.A. acquired a new stake in shares of Clearside Biomedical in the second quarter worth about $368,000. Finally, Johnson & Johnson bought a new stake in shares of Clearside Biomedical during the 3rd quarter worth about $105,000. 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.