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

Shares of Clearside Biomedical, Inc. (NASDAQ:CLSD) have been assigned a consensus recommendation of “Buy” from the six analysts that are currently covering the firm, MarketBeat.com reports. Six analysts have rated the stock with a buy recommendation. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $5.33.

CLSD has been the subject of several research reports. HC Wainwright reissued a “buy” rating and set a $6.00 price objective on shares of Clearside Biomedical in a research note on Thursday, November 14th. StockNews.com upgraded Clearside Biomedical from a “sell” rating to a “hold” rating in a research note on Thursday, December 12th. Chardan Capital reaffirmed a “buy” rating and issued a $6.00 price objective on shares of Clearside Biomedical in a research note on Friday, November 15th. Finally, Needham & Company LLC reissued a “buy” rating and set a $6.00 target price on shares of Clearside Biomedical in a research report on Wednesday, November 13th.

Insider Activity at Clearside Biomedical

In related news, insider Ngai Hang Victor Chong purchased 36,500 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The stock was acquired at an average price of $1.00 per share, for a total transaction of $36,500.00. Following the completion of the purchase, the insider now owns 100,000 shares in the company, valued at approximately $100,000. This represents a 57.48 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 9.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Clearside Biomedical

Several large investors have recently modified their holdings of CLSD. Vanguard Group Inc. increased its holdings 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 acquiring an additional 314,480 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of 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 purchasing an additional 59,089 shares during the period. Renaissance Technologies LLC grew its position in shares of Clearside Biomedical by 6.6% during 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 last quarter. Assenagon Asset Management S.A. acquired a new stake in Clearside Biomedical during the second quarter worth about $368,000. Finally, Johnson & Johnson bought a new position in Clearside Biomedical in the third quarter worth about $105,000. Institutional investors own 18.75% of the company’s stock.

Clearside Biomedical Trading Up 0.8 %

Shares of NASDAQ:CLSD opened at $0.88 on Tuesday. The firm has a market cap of $66.72 million, a price-to-earnings ratio of -1.95 and a beta of 2.29. The stock’s 50-day moving average price is $1.06 and its two-hundred day moving average price is $1.13. Clearside Biomedical has a 12-month low of $0.80 and a 12-month high of $2.12.

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

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.