Clearside Biomedical (NASDAQ:CLSD) Given New $4.00 Price Target at Needham & Company LLC

Clearside Biomedical (NASDAQ:CLSD) had its target price lowered by research analysts at Needham & Company LLC from $6.00 to $4.00 in a research note issued on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. Needham & Company LLC’s price objective would suggest a potential upside of 321.05% from the stock’s current price.

Several other brokerages also recently issued reports on CLSD. StockNews.com downgraded shares of Clearside Biomedical from a “hold” rating to a “sell” rating in a report on Tuesday, March 18th. HC Wainwright restated a “buy” rating and set a $6.00 price target on shares of Clearside Biomedical in a report on Thursday, March 6th. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $5.25.

Clearside Biomedical Stock Down 7.8 %

Shares of Clearside Biomedical stock opened at $0.95 on Friday. The firm’s 50-day moving average price is $0.96 and its two-hundred day moving average price is $1.05. The company has a market capitalization of $72.05 million, a price-to-earnings ratio of -2.11 and a beta of 2.10. Clearside Biomedical has a 12-month low of $0.77 and a 12-month high of $1.65.

Clearside Biomedical (NASDAQ:CLSD) last issued its earnings results on Thursday, March 27th. The company reported ($0.10) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.03. The business had revenue of $0.31 million during the quarter, compared to analyst estimates of $0.27 million. On average, sell-side analysts expect that Clearside Biomedical will post -0.48 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Investor s Fiduciary Advisor Network LLC bought a new stake in shares of Clearside Biomedical in the 4th quarter valued at $32,000. Northern Trust Corp lifted its holdings in Clearside Biomedical by 24.0% in the fourth quarter. Northern Trust Corp now owns 165,499 shares of the company’s stock valued at $157,000 after buying an additional 32,048 shares during the period. Finally, Geode Capital Management LLC boosted its position in 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 acquiring an additional 32,672 shares during the last quarter. 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.