Clearside Biomedical, Inc. (NASDAQ:CLSD) Receives Average Recommendation of “Hold” from Brokerages

Clearside Biomedical, Inc. (NASDAQ:CLSD) has earned a consensus recommendation of “Hold” from the six analysts that are currently covering the stock, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $63.00.

CLSD has been the topic of a number of recent analyst reports. Needham & Company LLC downgraded shares of Clearside Biomedical from a “moderate buy” rating to a “hold” rating and set a $45.00 target price on the stock. in a research report on Thursday, July 17th. Stifel Nicolaus downgraded shares of Clearside Biomedical from a “buy” rating to a “hold” rating and set a $30.00 target price on the stock. in a research report on Friday, July 18th. Chardan Capital downgraded shares of Clearside Biomedical from a “buy” rating to a “neutral” rating in a research report on Friday, July 18th. Jones Trading downgraded shares of Clearside Biomedical from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 17th. Finally, HC Wainwright downgraded shares of Clearside Biomedical from a “buy” rating to a “neutral” rating and set a $75.00 target price on the stock. in a research report on Friday, July 18th.

Institutional Trading of Clearside Biomedical

An institutional investor recently bought a new position in Clearside Biomedical stock. Apollon Wealth Management LLC purchased a new position in shares of Clearside Biomedical, Inc. (NASDAQ:CLSD) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 23,586 shares of the company’s stock, valued at approximately $94,000. Apollon Wealth Management LLC owned 0.45% of Clearside Biomedical at the end of the most recent reporting period. 18.75% of the stock is owned by institutional investors.

Clearside Biomedical Stock Performance

NASDAQ:CLSD opened at $3.90 on Friday. Clearside Biomedical has a 52-week low of $3.32 and a 52-week high of $17.40. The stock has a 50-day simple moving average of $4.62 and a 200 day simple moving average of $8.80. The company has a market cap of $20.44 million, a PE ratio of -0.70 and a beta of 2.05.

Clearside Biomedical (NASDAQ:CLSD) last announced its earnings results on Friday, August 8th. The company reported ($0.90) earnings per share for the quarter, topping the consensus estimate of ($1.80) by $0.90. The business had revenue of $0.49 million for the quarter, compared to analysts’ expectations of $0.50 million. On average, research analysts predict that Clearside Biomedical will post -0.48 earnings per share for the current fiscal year.

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.