Clearside Biomedical (NASDAQ:CLSD) Lowered to “Sell” at StockNews.com

Clearside Biomedical (NASDAQ:CLSDGet Rating) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a research report issued on Tuesday.

Several other analysts also recently weighed in on CLSD. HC Wainwright reiterated a “buy” rating and set a $6.00 target price on shares of Clearside Biomedical in a research report on Wednesday, April 19th. 500.com restated a “reiterates” rating on shares of Clearside Biomedical in a report on Friday, April 28th. Needham & Company LLC restated a “buy” rating and issued a $4.00 price objective on shares of Clearside Biomedical in a report on Thursday, April 20th. Finally, JMP Securities decreased their price objective on Clearside Biomedical from $7.00 to $6.00 and set a “market outperform” rating for the company in a report on Friday, March 10th. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $6.00.

Clearside Biomedical Trading Up 9.9 %

NASDAQ:CLSD opened at $1.11 on Tuesday. Clearside Biomedical has a twelve month low of $0.90 and a twelve month high of $1.86. The company has a market cap of $68.45 million, a price-to-earnings ratio of -2.02 and a beta of 2.07. The stock has a fifty day simple moving average of $1.09 and a 200-day simple moving average of $1.22.

Institutional Investors Weigh In On Clearside Biomedical

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Janney Montgomery Scott LLC purchased a new stake in Clearside Biomedical in the first quarter valued at $104,000. Stratos Wealth Partners LTD. acquired a new stake in shares of Clearside Biomedical in the first quarter valued at $26,000. Water Island Capital LLC acquired a new stake in shares of Clearside Biomedical in the fourth quarter valued at $53,000. Northeast Financial Consultants Inc grew its stake in shares of Clearside Biomedical by 56.6% in the fourth quarter. Northeast Financial Consultants Inc now owns 83,000 shares of the company’s stock valued at $93,000 after buying an additional 30,000 shares in the last quarter. Finally, Ameritas Advisory Services LLC grew its stake in shares of Clearside Biomedical by 100.0% in the fourth quarter. Ameritas Advisory Services LLC now owns 41,620 shares of the company’s stock valued at $47,000 after buying an additional 20,810 shares in the last quarter. Hedge funds and other institutional investors own 20.07% of the company’s stock.

Clearside Biomedical Company Profile

(Get Rating)

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.

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