Needham & Company LLC Lowers Clearside Biomedical (NASDAQ:CLSD) Price Target to $3.00

Clearside Biomedical (NASDAQ:CLSD) had its price objective lowered by investment analysts at Needham & Company LLC from $4.00 to $3.00 in a report issued on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. Needham & Company LLC’s target price indicates a potential upside of 241.34% from the company’s previous close.

A number of other equities research analysts have also weighed in on CLSD. Chardan Capital reiterated a “buy” rating and set a $6.00 price objective on shares of Clearside Biomedical in a report on Friday, March 28th. HC Wainwright reiterated a “buy” rating and set a $6.00 price objective on shares of Clearside Biomedical in a report on Monday, March 31st. Finally, StockNews.com lowered shares of Clearside Biomedical from a “hold” rating to a “sell” rating in a report on Friday, May 9th. One investment analyst has rated the stock with a sell rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $5.00.

Clearside Biomedical Trading Up 1.7%

CLSD stock opened at $0.88 on Thursday. Clearside Biomedical has a 12 month low of $0.70 and a 12 month high of $1.65. The company has a 50-day moving average price of $0.88 and a 200 day moving average price of $0.95. The stock has a market cap of $67.92 million, a PE ratio of -1.95 and a beta of 2.11.

Clearside Biomedical (NASDAQ:CLSD) last released its quarterly earnings results on Wednesday, May 14th. The company reported ($0.11) EPS for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.01. The firm had revenue of $2.33 million for the quarter, compared to analysts’ expectations of $0.20 million. Sell-side analysts forecast that Clearside Biomedical will post -0.48 EPS for the current year.

Institutional Investors Weigh In On Clearside Biomedical

Large investors have recently modified their holdings of the business. Investor s Fiduciary Advisor Network LLC bought a new stake in shares of Clearside Biomedical in the 4th quarter valued at about $32,000. Northern Trust Corp raised its holdings in shares of Clearside Biomedical by 24.0% in the 4th quarter. Northern Trust Corp now owns 165,499 shares of the company’s stock valued at $157,000 after purchasing an additional 32,048 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of Clearside Biomedical by 4.5% in the 4th quarter. Geode Capital Management LLC now owns 764,058 shares of the company’s stock valued at $726,000 after purchasing an additional 32,672 shares in the last quarter. 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.