Clearside Biomedical (NASDAQ:CLSD) Raised to “Hold” at StockNews.com

Clearside Biomedical (NASDAQ:CLSD) was upgraded by stock analysts at StockNews.com from a “sell” rating to a “hold” rating in a report released on Thursday.

CLSD has been the subject of several other reports. HC Wainwright restated a “buy” rating and set a $6.00 price target on shares of Clearside Biomedical in a research report on Thursday, November 14th. Needham & Company LLC reiterated a “buy” rating and set a $6.00 price target on shares of Clearside Biomedical in a research note on Wednesday, November 13th. Finally, Chardan Capital reissued a “buy” rating and issued a $6.00 price objective on shares of Clearside Biomedical in a research note on Friday, November 15th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, Clearside Biomedical has a consensus rating of “Moderate Buy” and a consensus price target of $5.33.

Clearside Biomedical Stock Up 2.0 %

Shares of Clearside Biomedical stock opened at $1.02 on Thursday. The business’s fifty day simple moving average is $1.12 and its 200-day simple moving average is $1.15. The firm has a market cap of $77.36 million, a PE ratio of -2.27 and a beta of 2.29. Clearside Biomedical has a 52 week low of $0.92 and a 52 week high of $2.12.

Clearside Biomedical (NASDAQ:CLSD) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.10) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.04. The company had revenue of $1.04 million for the quarter, compared to analyst estimates of $0.25 million. During the same quarter in the prior year, the business earned ($0.15) earnings per share. As a group, equities analysts expect that Clearside Biomedical will post -0.48 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Ngai Hang Victor Chong acquired 36,500 shares of the firm’s stock in a transaction dated Friday, November 1st. The stock was acquired at an average cost of $1.00 per share, with a total value of $36,500.00. Following the transaction, the insider now owns 100,000 shares in the company, valued at approximately $100,000. This trade represents a 57.48 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 9.20% of the company’s stock.

Hedge Funds Weigh In On Clearside Biomedical

Large investors have recently bought and sold shares of the business. XTX Topco Ltd lifted its holdings in Clearside Biomedical by 172.2% during the 2nd quarter. XTX Topco Ltd now owns 54,313 shares of the company’s stock worth $71,000 after buying an additional 34,359 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of Clearside Biomedical by 6.6% during the 2nd quarter. Renaissance Technologies LLC now owns 582,689 shares of the company’s stock worth $757,000 after acquiring an additional 35,900 shares in the last quarter. Geode Capital Management LLC lifted its stake in Clearside Biomedical by 8.8% during the third quarter. Geode Capital Management LLC now owns 731,386 shares of the company’s stock worth $929,000 after purchasing an additional 59,089 shares during the last quarter. Johnson & Johnson acquired a new position in Clearside Biomedical in the third quarter valued at approximately $105,000. Finally, Assenagon Asset Management S.A. purchased a new position in Clearside Biomedical in the second quarter valued at approximately $368,000. 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.