Clearside Biomedical, Inc. (NASDAQ:CLSD) Receives $4.60 Average PT from Analysts

Shares of Clearside Biomedical, Inc. (NASDAQ:CLSD) have been assigned an average rating of “Buy” from the five ratings firms that are presently covering the firm, Marketbeat.com reports. Five investment analysts have rated the stock with a buy recommendation. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $4.60.

Several equities analysts have recently weighed in on the company. Needham & Company LLC reissued a “buy” rating and set a $4.00 target price on shares of Clearside Biomedical in a research report on Monday, May 13th. Wedbush restated an “outperform” rating and issued a $4.00 target price (down from $5.00) on shares of Clearside Biomedical in a research note on Wednesday, March 13th. StockNews.com lowered Clearside Biomedical from a “hold” rating to a “sell” rating in a report on Friday, May 10th. HC Wainwright reduced their price objective on Clearside Biomedical from $6.00 to $5.00 and set a “buy” rating on the stock in a report on Monday, May 13th. Finally, JMP Securities restated a “market outperform” rating and issued a $5.00 price target on shares of Clearside Biomedical in a report on Wednesday, March 13th.

Hedge Funds Weigh In On Clearside Biomedical

A number of large investors have recently added to or reduced their stakes in CLSD. SG Americas Securities LLC purchased a new position in Clearside Biomedical during the 1st quarter worth $49,000. International Assets Investment Management LLC acquired a new position in shares of Clearside Biomedical during the first quarter valued at about $57,000. Vanguard Group Inc. boosted its stake in Clearside Biomedical by 14.5% in the 1st quarter. Vanguard Group Inc. now owns 2,490,796 shares of the company’s stock worth $3,811,000 after purchasing an additional 314,480 shares in the last quarter. Finally, Rosalind Advisors Inc. purchased a new position in shares of Clearside Biomedical in the first quarter worth $3,967,000. 18.75% of the stock is currently owned by institutional investors.

Clearside Biomedical Trading Up 1.6 %

NASDAQ:CLSD opened at $1.30 on Tuesday. The company has a market capitalization of $97.15 million, a P/E ratio of -2.36 and a beta of 2.36. Clearside Biomedical has a 12 month low of $0.65 and a 12 month high of $2.12. The business’s 50-day moving average is $1.28 and its 200 day moving average is $1.33.

Clearside Biomedical (NASDAQ:CLSD) last announced its earnings results on Thursday, May 9th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.03). The firm had revenue of $0.23 million for the quarter, compared to analysts’ expectations of $0.98 million. During the same quarter last year, the company earned ($0.15) EPS. On average, research analysts forecast that Clearside Biomedical will post -0.63 earnings per share for the current year.

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.