Stifel Nicolaus Downgrades Clearside Biomedical (NASDAQ:CLSD) to Hold

Clearside Biomedical (NASDAQ:CLSD) was downgraded by investment analysts at Stifel Nicolaus from a “buy” rating to a “hold” rating in a report issued on Friday, Marketbeat reports. They currently have a $2.00 price objective on the stock. Stifel Nicolaus’ price objective indicates a potential upside of 387.80% from the stock’s current price.

A number of other equities analysts have also recently commented on CLSD. HC Wainwright cut Clearside Biomedical from a “buy” rating to a “neutral” rating and set a $5.00 price target on the stock. in a research note on Friday. Needham & Company LLC cut Clearside Biomedical from a “moderate buy” rating to a “hold” rating and set a $3.00 target price on the stock. in a research note on Thursday. Chardan Capital reissued a “buy” rating and set a $6.00 target price on shares of Clearside Biomedical in a research note on Friday, March 28th. Wall Street Zen raised Clearside Biomedical from a “sell” rating to a “hold” rating in a research note on Saturday, May 17th. Finally, JMP Securities reissued a “market outperform” rating and set a $5.00 target price on shares of Clearside Biomedical in a research note on Friday, May 16th. Six equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, Clearside Biomedical currently has a consensus rating of “Hold” and a consensus target price of $4.20.

Clearside Biomedical Price Performance

Shares of CLSD opened at $0.41 on Friday. The firm’s 50 day simple moving average is $0.81 and its 200 day simple moving average is $0.88. The company has a market capitalization of $31.86 million, a P/E ratio of -1.00 and a beta of 2.05. Clearside Biomedical has a 1-year low of $0.32 and a 1-year high of $1.65.

Clearside Biomedical (NASDAQ:CLSD) last released its earnings results 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 the consensus estimate of $0.20 million. On average, equities analysts anticipate that Clearside Biomedical will post -0.48 earnings per share for the current year.

Institutional Investors Weigh In On Clearside Biomedical

Several hedge funds have recently added to or reduced their stakes in the stock. Investor s Fiduciary Advisor Network LLC bought a new position in shares of Clearside Biomedical during the fourth quarter valued at $32,000. Geode Capital Management LLC lifted 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 purchasing an additional 32,672 shares in the last quarter. Finally, Northern Trust Corp lifted 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 purchasing an additional 32,048 shares in the last quarter. 18.75% of the stock is owned by institutional investors.

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.