Clearside Biomedical, Inc. (NASDAQ:CLSD) Receives Average Recommendation of “Moderate Buy” from Brokerages

Clearside Biomedical, Inc. (NASDAQ:CLSD – Get Rating) has earned an average rating of “Moderate Buy” from the six research firms that are covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $6.00.

Several research analysts recently weighed in on the company. Needham & Company LLC dropped their price target on Clearside Biomedical from $5.00 to $4.00 and set a “buy” rating on the stock in a research report on Friday. HC Wainwright reissued a “buy” rating and set a $6.00 price target on shares of Clearside Biomedical in a research report on Friday. Finally, JMP Securities dropped their price target on Clearside Biomedical from $7.00 to $6.00 and set a “market outperform” rating on the stock in a research report on Friday.

Insiders Place Their Bets

In other Clearside Biomedical news, CEO George M. Lasezkay sold 20,030 shares of the company’s stock in a transaction dated Thursday, January 19th. The stock was sold at an average price of $1.46, for a total value of $29,243.80. Following the transaction, the chief executive officer now directly owns 484,577 shares of the company’s stock, valued at approximately $707,482.42. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders have sold a total of 49,930 shares of company stock valued at $73,943 in the last three months. Insiders own 12.00% of the company’s stock.

Institutional Trading of Clearside Biomedical

A number of institutional investors and hedge funds have recently modified their holdings of CLSD. Mackenzie Financial Corp bought a new position in Clearside Biomedical during the first quarter worth $27,000. JPMorgan Chase & Co. increased its position in Clearside Biomedical by 100.6% during the second quarter. JPMorgan Chase & Co. now owns 18,161 shares of the company’s stock worth $27,000 after acquiring an additional 9,109 shares during the period. Balyasny Asset Management LLC bought a new position in Clearside Biomedical during the third quarter worth $25,000. Newman Dignan & Sheerar Inc. bought a new position in Clearside Biomedical during the third quarter worth $31,000. Finally, Banque Cantonale Vaudoise bought a new position in Clearside Biomedical during the fourth quarter worth $45,000. 20.07% of the stock is currently owned by institutional investors and hedge funds.

Clearside Biomedical Stock Down 2.8 %

Shares of Clearside Biomedical stock opened at $1.05 on Tuesday. The stock’s fifty day moving average is $1.39 and its 200-day moving average is $1.28. The firm has a market capitalization of $63.20 million, a PE ratio of -1.91 and a beta of 1.95. Clearside Biomedical has a 12-month low of $0.98 and a 12-month high of $2.85.

Clearside Biomedical Company Profile

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Clearside Biomedical, Inc is a biopharmaceutical company, which delivers therapies to the back of the eye through the suprachoroidal space. Its pipeline include CLS-AX, Integrin Inhibitor, and gene therapy. The company was founded by Samir Kumar Patel, Vladimir Zarnitsyn, Mark Prausnitz, Daniel H. White, and Henry F.