Clearside Biomedical, Inc. (NASDAQ:CLSD) Given Consensus Recommendation of “Buy” by Brokerages

Shares of Clearside Biomedical, Inc. (NASDAQ:CLSD) have been assigned a consensus recommendation of “Buy” from the five analysts that are currently covering the company, MarketBeat reports. Five analysts have rated the stock with a buy rating. The average 12 month target price among brokers that have issued a report on the stock in the last year is $4.80.

A number of brokerages recently weighed in on CLSD. Chardan Capital restated a “buy” rating and issued a $6.00 price objective on shares of Clearside Biomedical in a report on Friday, March 28th. JMP Securities reissued a “market outperform” rating and set a $5.00 price objective on shares of Clearside Biomedical in a research report on Friday, May 16th. Wall Street Zen raised shares of Clearside Biomedical from a “sell” rating to a “hold” rating in a research report on Saturday, May 17th. HC Wainwright cut their price objective on shares of Clearside Biomedical from $6.00 to $5.00 and set a “buy” rating for the company in a research report on Friday, May 23rd. Finally, Needham & Company LLC dropped their target price on shares of Clearside Biomedical from $4.00 to $3.00 and set a “buy” rating for the company in a report on Thursday, May 15th.

Clearside Biomedical Stock Performance

CLSD stock opened at $0.76 on Tuesday. The firm has a 50 day moving average price of $0.83 and a 200-day moving average price of $0.92. Clearside Biomedical has a 52-week low of $0.70 and a 52-week high of $1.65. The firm has a market capitalization of $59.14 million, a price-to-earnings ratio of -1.69 and a beta of 2.06.

Clearside Biomedical (NASDAQ:CLSD) last announced its quarterly earnings data on Wednesday, May 14th. The company reported ($0.11) earnings per share for the quarter, topping analysts’ consensus estimates 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. As a group, sell-side analysts forecast that Clearside Biomedical will post -0.48 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its holdings in Clearside Biomedical by 4.5% in the fourth quarter. Geode Capital Management LLC now owns 764,058 shares of the company’s stock valued at $726,000 after buying an additional 32,672 shares in the last quarter. Northern Trust Corp boosted its position in Clearside Biomedical by 24.0% during the fourth quarter. Northern Trust Corp now owns 165,499 shares of the company’s stock worth $157,000 after acquiring an additional 32,048 shares during the last quarter. Finally, Investor s Fiduciary Advisor Network LLC acquired a new position in Clearside Biomedical during the fourth quarter worth about $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.