Clearside Biomedical (NASDAQ:CLSD) Rating Increased to Hold at StockNews.com

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

Several other equities analysts also recently issued reports on the stock. HC Wainwright restated a “buy” rating and set a $6.00 price objective on shares of Clearside Biomedical in a report on Thursday, November 14th. Chardan Capital reiterated a “buy” rating and issued a $6.00 price target on shares of Clearside Biomedical in a report on Friday, November 15th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $6.00 price target on shares of Clearside Biomedical in a research report on Wednesday, November 13th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $5.33.

Clearside Biomedical Price Performance

Clearside Biomedical stock opened at $1.01 on Thursday. Clearside Biomedical has a 1-year low of $0.92 and a 1-year high of $2.12. The company’s 50-day moving average is $1.12 and its 200 day moving average is $1.15. The firm has a market capitalization of $76.60 million, a P/E ratio of -2.24 and a beta of 2.29.

Clearside Biomedical (NASDAQ:CLSD) last issued its earnings results on Tuesday, November 12th. The company reported ($0.10) EPS for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.04. The company had revenue of $1.04 million for the quarter, compared to analysts’ expectations of $0.25 million. During the same period last year, the business posted ($0.15) earnings per share. Research analysts anticipate that Clearside Biomedical will post -0.48 earnings per share for the current fiscal year.

Insider Buying and Selling at Clearside Biomedical

In other Clearside Biomedical news, insider Ngai Hang Victor Chong purchased 36,500 shares of the firm’s stock in a transaction on Friday, November 1st. The stock was bought at an average price of $1.00 per share, with a total value of $36,500.00. Following the transaction, the insider now directly owns 100,000 shares of the company’s stock, valued at approximately $100,000. This represents a 57.48 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 9.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in shares of Clearside Biomedical by 14.5% in the first quarter. Vanguard Group Inc. now owns 2,490,796 shares of the company’s stock valued at $3,811,000 after acquiring an additional 314,480 shares during the period. Assenagon Asset Management S.A. purchased a new position in Clearside Biomedical during the 2nd quarter worth $368,000. Johnson & Johnson acquired a new position in Clearside Biomedical in the third quarter valued at $105,000. Geode Capital Management LLC raised its holdings in shares of Clearside Biomedical by 8.8% in the third quarter. Geode Capital Management LLC now owns 731,386 shares of the company’s stock valued at $929,000 after buying an additional 59,089 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its stake 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 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.