JMP Securities Reiterates “Market Outperform” Rating for Clearside Biomedical (NASDAQ:CLSD)

Clearside Biomedical (NASDAQ:CLSD)‘s stock had its “market outperform” rating reiterated by equities research analysts at JMP Securities in a report released on Friday,Benzinga reports. They currently have a $5.00 target price on the stock. JMP Securities’ target price would indicate a potential upside of 468.89% from the stock’s current price.

Several other brokerages have also issued reports on CLSD. Needham & Company LLC cut their target price on Clearside Biomedical from $4.00 to $3.00 and set a “buy” rating for the company in a research note on Thursday. StockNews.com lowered Clearside Biomedical from a “hold” rating to a “sell” rating in a research note on Friday, May 9th. HC Wainwright reissued a “buy” rating and set a $6.00 price objective on shares of Clearside Biomedical in a research note on Monday, March 31st. Finally, Chardan Capital reissued a “buy” rating and set a $6.00 price objective on shares of Clearside Biomedical in a research note on Friday, March 28th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $5.00.

Clearside Biomedical Price Performance

Shares of CLSD opened at $0.88 on Friday. The firm has a market cap of $67.92 million, a P/E ratio of -1.95 and a beta of 2.11. The stock has a 50 day simple moving average of $0.88 and a two-hundred day simple moving average of $0.95. Clearside Biomedical has a 1 year low of $0.70 and a 1 year high of $1.65.

Clearside Biomedical (NASDAQ:CLSD) last issued its earnings results on Wednesday, May 14th. The company reported ($0.11) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.12) by $0.01. The firm had revenue of $2.33 million during the quarter, compared to analysts’ expectations of $0.20 million. On average, equities analysts anticipate that Clearside Biomedical will post -0.48 earnings per share for the current year.

Institutional Trading of Clearside Biomedical

A number of institutional investors have recently made changes to their positions in the stock. Geode Capital Management LLC raised its holdings in shares of Clearside Biomedical by 4.5% during the fourth quarter. Geode Capital Management LLC now owns 764,058 shares of the company’s stock valued at $726,000 after acquiring an additional 32,672 shares in the last quarter. Northern Trust Corp raised its holdings in shares of Clearside Biomedical by 24.0% during the fourth quarter. Northern Trust Corp now owns 165,499 shares of the company’s stock valued at $157,000 after acquiring an additional 32,048 shares in the last quarter. Finally, Investor s Fiduciary Advisor Network LLC bought a new position in shares of Clearside Biomedical during the fourth quarter valued at approximately $32,000. Hedge funds and other institutional investors own 18.75% of the company’s stock.

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.