Clearside Biomedical, Inc. (NASDAQ:CLSD) Receives Consensus Rating of “Buy” from Analysts

Clearside Biomedical, Inc. (NASDAQ:CLSD) has been assigned a consensus rating of “Buy” from the four research firms that are presently covering the company, Marketbeat reports. Four research analysts have rated the stock with a buy rating. The average twelve-month price target among analysts that have covered the stock in the last year is $4.75.

Several analysts have recently commented on the company. JMP Securities reiterated a “market outperform” rating and set a $5.00 price objective on shares of Clearside Biomedical in a report on Wednesday, March 13th. HC Wainwright restated a “buy” rating and issued a $6.00 target price on shares of Clearside Biomedical in a research note on Thursday, March 14th. Needham & Company LLC restated a “buy” rating and issued a $4.00 target price on shares of Clearside Biomedical in a research note on Thursday, April 11th. StockNews.com upgraded Clearside Biomedical from a “sell” rating to a “hold” rating in a research note on Saturday, February 10th. Finally, Wedbush restated an “outperform” rating and issued a $4.00 target price (down previously from $5.00) on shares of Clearside Biomedical in a research note on Wednesday, March 13th.

Insiders Place Their Bets

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

Institutional Investors Weigh In On Clearside Biomedical

A number of institutional investors and hedge funds have recently bought and sold shares of CLSD. Balyasny Asset Management LLC purchased a new stake in shares of Clearside Biomedical in the third quarter valued at about $25,000. Mackenzie Financial Corp purchased a new position in Clearside Biomedical during the first quarter worth about $27,000. JPMorgan Chase & Co. raised its holdings 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 purchasing an additional 9,109 shares in the last quarter. International Assets Investment Management LLC purchased a new position in Clearside Biomedical during the first quarter worth about $57,000. Finally, Stifel Financial Corp grew its position in Clearside Biomedical by 375.6% during 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. 18.75% of the stock is owned by hedge funds and other institutional investors.

Clearside Biomedical Stock Down 10.9 %

Shares of Clearside Biomedical stock opened at $1.15 on Wednesday. The stock’s 50-day simple moving average is $1.45 and its 200-day simple moving average is $1.20. Clearside Biomedical has a 52 week low of $0.65 and a 52 week high of $2.12. The company has a market capitalization of $85.93 million, a price-to-earnings ratio of -2.17 and a beta of 2.29.

Clearside Biomedical (NASDAQ:CLSD) last issued its quarterly earnings data on Tuesday, March 12th. The company reported ($0.08) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.02. The company had revenue of $6.35 million for the quarter, compared to analysts’ expectations of $3.40 million. On average, equities analysts expect that Clearside Biomedical will post -0.56 earnings per share for the current year.

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.