Analysts Set Clearside Biomedical, Inc. (NASDAQ:CLSD) Price Target at $5.33

Shares of Clearside Biomedical, Inc. (NASDAQ:CLSD) have earned an average recommendation of “Buy” from the six analysts that are covering the company, MarketBeat reports. Six analysts have rated the stock with a buy rating. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $5.33.

Several research firms have commented on CLSD. Chardan Capital reaffirmed a “buy” rating and set a $6.00 price objective on shares of Clearside Biomedical in a research note on Friday, November 15th. Needham & Company LLC reiterated a “buy” rating and issued a $6.00 price objective on shares of Clearside Biomedical in a report on Wednesday, November 13th. StockNews.com upgraded Clearside Biomedical from a “sell” rating to a “hold” rating in a research report on Thursday, December 12th. Finally, HC Wainwright reiterated a “buy” rating and issued a $6.00 price objective on shares of Clearside Biomedical in a report on Thursday, November 14th.

Clearside Biomedical Trading Down 4.1 %

NASDAQ CLSD opened at $0.93 on Tuesday. The firm’s fifty day simple moving average is $1.07 and its two-hundred day simple moving average is $1.14. Clearside Biomedical has a 12-month low of $0.92 and a 12-month high of $2.12. The firm has a market capitalization of $70.53 million, a P/E ratio of -2.07 and a beta of 2.29.

Clearside Biomedical (NASDAQ:CLSD) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.10) EPS for the quarter, topping the consensus estimate 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 previous year, the firm posted ($0.15) earnings per share. As a group, sell-side analysts predict that Clearside Biomedical will post -0.48 earnings per share for the current fiscal year.

Insider Buying and Selling at Clearside Biomedical

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. 9.20% of the stock is currently owned by corporate insiders.

Institutional Trading of Clearside Biomedical

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CLSD. Vanguard Group Inc. raised its position in Clearside Biomedical by 14.5% in the 1st quarter. Vanguard Group Inc. now owns 2,490,796 shares of the company’s stock valued at $3,811,000 after purchasing an additional 314,480 shares during the last quarter. Assenagon Asset Management S.A. acquired a new stake in shares of Clearside Biomedical in the 2nd quarter worth approximately $368,000. Renaissance Technologies LLC grew its holdings in Clearside Biomedical by 6.6% in the second quarter. Renaissance Technologies LLC now owns 582,689 shares of the company’s stock valued at $757,000 after purchasing an additional 35,900 shares during the last quarter. XTX Topco Ltd increased 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 valued at $71,000 after acquiring an additional 34,359 shares in the last quarter. Finally, Johnson & Johnson acquired a new stake in shares of Clearside Biomedical in the third quarter valued at approximately $105,000. Institutional investors and hedge funds 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.