Clearside Biomedical’s (CLSD) Buy Rating Reaffirmed at Chardan Capital

Chardan Capital reaffirmed their buy rating on shares of Clearside Biomedical (NASDAQ:CLSD) in a research note issued to investors on Friday morning,Benzinga reports. The firm currently has a $6.00 price objective on the stock.

A number of other research firms have also weighed in on CLSD. StockNews.com lowered shares of Clearside Biomedical from a “hold” rating to a “sell” rating in a research note on Tuesday, March 18th. Needham & Company LLC lowered their price target on shares of Clearside Biomedical from $6.00 to $4.00 and set a “buy” rating for the company in a research report on Friday. Finally, HC Wainwright reissued a “buy” rating and set a $6.00 price objective on shares of Clearside Biomedical in a report on Thursday, March 6th. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Clearside Biomedical has an average rating of “Moderate Buy” and a consensus price target of $5.25.

Clearside Biomedical Stock Performance

Clearside Biomedical stock opened at $0.95 on Friday. The company has a market capitalization of $72.05 million, a PE ratio of -2.11 and a beta of 2.10. The company has a 50 day moving average price of $0.96 and a 200-day moving average price of $1.05. Clearside Biomedical has a fifty-two week low of $0.77 and a fifty-two week 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 firm had revenue of $0.31 million for the quarter, compared to the consensus estimate of $0.27 million. On average, analysts forecast that Clearside Biomedical will post -0.48 earnings per share for the current year.

Institutional Trading of Clearside Biomedical

Several hedge funds have recently modified their holdings of the company. Geode Capital Management LLC grew its position in shares of Clearside Biomedical by 8.8% in the 3rd quarter. Geode Capital Management LLC now owns 731,386 shares of the company’s stock worth $929,000 after buying an additional 59,089 shares during the last quarter. Investor s Fiduciary Advisor Network LLC acquired a new stake in Clearside Biomedical in the fourth quarter valued at approximately $32,000. Finally, Northern Trust Corp boosted its stake 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 acquiring an additional 32,048 shares in the last quarter. 18.75% of the stock is owned by hedge funds and other institutional investors.

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.