Clearside Biomedical (NASDAQ:CLSD) Receives Buy Rating from HC Wainwright

HC Wainwright reissued their buy rating on shares of Clearside Biomedical (NASDAQ:CLSD) in a research note published on Tuesday, Benzinga reports. They currently have a $5.00 target price on the stock. HC Wainwright also issued estimates for Clearside Biomedical’s Q3 2024 earnings at ($0.13) EPS, Q4 2024 earnings at ($0.13) EPS, FY2024 earnings at ($0.53) EPS, Q1 2025 earnings at ($0.13) EPS and FY2025 earnings at ($0.55) EPS.

Other equities research analysts also recently issued reports about the company. StockNews.com downgraded Clearside Biomedical from a hold rating to a sell rating in a research note on Friday, May 10th. Needham & Company LLC reissued a buy rating and issued a $4.00 price objective on shares of Clearside Biomedical in a report on Tuesday. Finally, Oppenheimer started coverage on shares of Clearside Biomedical in a research report on Tuesday, June 25th. They set an outperform rating and a $5.00 target price for the company. One research analyst has rated the stock with a sell rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of Moderate Buy and an average target price of $4.60.

Clearside Biomedical Trading Up 3.4 %

Shares of CLSD stock opened at $1.06 on Tuesday. The stock has a market capitalization of $78.84 million, a P/E ratio of -1.92 and a beta of 2.43. The firm’s 50 day moving average is $1.17 and its 200 day moving average is $1.31. Clearside Biomedical has a 12-month low of $0.65 and a 12-month high of $2.12.

Clearside Biomedical (NASDAQ:CLSD) last released its quarterly earnings results on Monday, August 12th. The company reported ($0.10) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.04. The firm had revenue of $0.09 million during the quarter, compared to analysts’ expectations of $0.25 million. During the same quarter last year, the business earned ($0.15) earnings per share. As a group, equities analysts predict that Clearside Biomedical will post -0.6 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in CLSD. SG Americas Securities LLC purchased a new stake in Clearside Biomedical in the 1st quarter worth approximately $49,000. International Assets Investment Management LLC bought a new position in shares of Clearside Biomedical in the first quarter worth approximately $57,000. XTX Topco Ltd boosted its position in shares of Clearside Biomedical by 172.2% in the second quarter. XTX Topco Ltd now owns 54,313 shares of the company’s stock worth $71,000 after purchasing an additional 34,359 shares during the period. Assenagon Asset Management S.A. bought a new stake in shares of Clearside Biomedical during the 2nd quarter valued at $368,000. Finally, Renaissance Technologies LLC raised its position in shares of Clearside Biomedical by 6.6% during the 2nd 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 period. 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.