Clearside Biomedical (NASDAQ:CLSD) Stock Rating Upgraded by StockNews.com

Clearside Biomedical (NASDAQ:CLSD) was upgraded by stock analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

Several other analysts have also recently issued reports on CLSD. Chardan Capital restated a “buy” rating and issued a $6.00 target price on shares of Clearside Biomedical in a report on Friday. Needham & Company LLC reissued a “buy” rating and issued a $6.00 price objective on shares of Clearside Biomedical in a report on Wednesday, November 13th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $6.00 target price on shares of Clearside Biomedical in a research note on Thursday. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Clearside Biomedical has a consensus rating of “Moderate Buy” and an average target price of $5.33.

Clearside Biomedical Trading Down 5.7 %

CLSD opened at $0.99 on Friday. Clearside Biomedical has a twelve month low of $0.90 and a twelve month high of $2.12. The firm has a market capitalization of $75.08 million, a PE ratio of -2.20 and a beta of 2.33. The firm’s 50-day moving average price is $1.19 and its 200 day moving average price is $1.19.

Clearside Biomedical (NASDAQ:CLSD) last released its earnings results on Tuesday, November 12th. The company reported ($0.10) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.04. The business had revenue of $1.04 million during the quarter, compared to analysts’ expectations of $0.25 million. During the same period last year, the business earned ($0.15) earnings per share. As a group, analysts predict that Clearside Biomedical will post -0.51 earnings per share for the current fiscal year.

Insider Transactions at Clearside Biomedical

In related news, insider Ngai Hang Victor Chong bought 36,500 shares of the firm’s stock in a transaction on Friday, November 1st. The shares were bought at an average price of $1.00 per share, with a total value of $36,500.00. Following the completion of the transaction, the insider now directly owns 100,000 shares of the company’s stock, valued at $100,000. This represents a 57.48 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 9.20% of the company’s stock.

Institutional Investors Weigh In On Clearside Biomedical

A number of institutional investors have recently made changes to their positions in the stock. SG Americas Securities LLC acquired a new position in shares of Clearside Biomedical in the 1st quarter worth approximately $49,000. XTX Topco Ltd raised its position in Clearside Biomedical by 172.2% in the second quarter. XTX Topco Ltd now owns 54,313 shares of the company’s stock valued at $71,000 after purchasing an additional 34,359 shares during the period. Johnson & Johnson purchased a new stake in Clearside Biomedical in the third quarter valued at approximately $105,000. Assenagon Asset Management S.A. acquired a new position in Clearside Biomedical during the second quarter worth $368,000. Finally, Renaissance Technologies LLC boosted its position in shares of Clearside Biomedical by 6.6% during the second quarter. Renaissance Technologies LLC now owns 582,689 shares of the company’s stock worth $757,000 after buying an additional 35,900 shares during the period. 18.75% of the stock is currently owned by institutional investors and hedge funds.

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.