HC Wainwright Reiterates Buy Rating for Clearside Biomedical (NASDAQ:CLSD)

HC Wainwright reaffirmed their buy rating on shares of Clearside Biomedical (NASDAQ:CLSD) in a report released on Monday,Benzinga reports. HC Wainwright currently has a $6.00 price target on the stock.

A number of other equities analysts have also weighed in on CLSD. StockNews.com lowered shares of Clearside Biomedical from a “hold” rating to a “sell” rating in a research report on Tuesday, March 18th. Needham & Company LLC lowered their target price on shares of Clearside Biomedical from $6.00 to $4.00 and set a “buy” rating on the stock in a report on Friday. Finally, Chardan Capital reissued a “buy” rating and set a $6.00 price target on shares of Clearside Biomedical in a report on Friday. One equities research analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $5.25.

Clearside Biomedical Stock Performance

Shares of CLSD opened at $0.92 on Monday. Clearside Biomedical has a fifty-two week low of $0.77 and a fifty-two week high of $1.65. The firm has a 50-day simple moving average of $0.96 and a 200-day simple moving average of $1.04. The company has a market capitalization of $69.62 million, a price-to-earnings ratio of -2.04 and a beta of 2.10.

Clearside Biomedical (NASDAQ:CLSD) last announced its earnings results on Thursday, March 27th. The company reported ($0.10) earnings per share for the quarter, beating the consensus estimate of ($0.13) by $0.03. The company had revenue of $0.31 million during the quarter, compared to analysts’ expectations of $0.27 million. Equities research analysts forecast that Clearside Biomedical will post -0.48 EPS for the current year.

Institutional Investors Weigh In On Clearside Biomedical

Hedge funds and other institutional investors have recently modified their holdings of the stock. Investor s Fiduciary Advisor Network LLC acquired a new stake in shares of Clearside Biomedical in the 4th quarter worth approximately $32,000. Northern Trust Corp raised its holdings in Clearside Biomedical by 24.0% during the fourth quarter. Northern Trust Corp now owns 165,499 shares of the company’s stock worth $157,000 after purchasing an additional 32,048 shares during the last quarter. 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 worth $726,000 after purchasing an additional 32,672 shares in the last quarter. 18.75% of the stock is currently owned by institutional investors and hedge funds.

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.