Clearside Biomedical (NASDAQ:CLSD) Rating Reiterated by Needham & Company LLC

Clearside Biomedical (NASDAQ:CLSD)‘s stock had its “buy” rating reissued by Needham & Company LLC in a research report issued to clients and investors on Thursday, Benzinga reports. They currently have a $4.00 target price on the stock. Needham & Company LLC’s price target indicates a potential upside of 220.00% from the company’s previous close.

A number of other equities analysts have also weighed in on the stock. Wedbush reiterated an “outperform” rating and issued a $4.00 price target (down previously from $5.00) on shares of Clearside Biomedical in a report on Wednesday, March 13th. StockNews.com upgraded Clearside Biomedical from a “sell” rating to a “hold” rating in a report on Saturday, February 10th. HC Wainwright restated a “buy” rating and issued a $6.00 price target on shares of Clearside Biomedical in a report on Thursday, March 14th. Finally, JMP Securities reissued a “market outperform” rating and issued a $5.00 price objective on shares of Clearside Biomedical in a research report on Wednesday, March 13th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $4.75.

Clearside Biomedical Stock Down 3.8 %

Shares of Clearside Biomedical stock opened at $1.25 on Thursday. Clearside Biomedical has a fifty-two week low of $0.65 and a fifty-two week high of $2.12. The business’s fifty day moving average is $1.46 and its two-hundred day moving average is $1.19. The firm has a market cap of $93.40 million, a PE ratio of -2.38 and a beta of 2.29.

Clearside Biomedical (NASDAQ:CLSD) last released its earnings results on Tuesday, March 12th. The company reported ($0.08) earnings per share for the quarter, topping the consensus estimate of ($0.10) by $0.02. The business had revenue of $6.35 million for the quarter, compared to analysts’ expectations of $3.40 million. Equities research analysts anticipate that Clearside Biomedical will post -0.56 EPS for the current year.

Insider Activity

In other Clearside Biomedical news, major shareholder Bradford T. Whitmore acquired 444,444 shares of the stock in a transaction on Wednesday, February 7th. The stock was purchased at an average price of $1.35 per share, for a total transaction of $599,999.40. Following the purchase, the insider now directly owns 4,495,034 shares in the company, valued at $6,068,295.90. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, major shareholder Bradford T. Whitmore purchased 444,444 shares of the firm’s stock in a transaction that occurred on Wednesday, February 7th. The stock was acquired at an average cost of $1.35 per share, for a total transaction of $599,999.40. Following the completion of the purchase, the insider now owns 4,495,034 shares of the company’s stock, valued at $6,068,295.90. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Ngai Hang Victor Chong acquired 30,000 shares of the business’s stock in a transaction on Wednesday, March 20th. The shares were purchased at an average price of $1.60 per share, for a total transaction of $48,000.00. Following the purchase, the insider now directly owns 30,000 shares of the company’s stock, valued at $48,000. The disclosure for this purchase can be found here. Insiders own 9.80% of the company’s stock.

Institutional Trading of Clearside Biomedical

Institutional investors have recently added to or reduced their stakes in the business. Balyasny Asset Management LLC acquired a new position in shares of Clearside Biomedical in the 3rd quarter valued at about $25,000. Mackenzie Financial Corp bought a new stake in shares of Clearside Biomedical in the 1st quarter worth approximately $27,000. JPMorgan Chase & Co. boosted its position in Clearside Biomedical by 100.6% during the 2nd quarter. JPMorgan Chase & Co. now owns 18,161 shares of the company’s stock valued at $27,000 after purchasing an additional 9,109 shares during the period. International Assets Investment Management LLC bought a new position in Clearside Biomedical during the 1st quarter worth $57,000. Finally, Stifel Financial Corp increased its position in Clearside Biomedical by 375.6% in the second quarter. Stifel Financial Corp now owns 60,544 shares of the company’s stock worth $68,000 after buying an additional 47,814 shares during the period. Institutional investors 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.