Clearside Biomedical (NASDAQ:CLSD) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Clearside Biomedical (NASDAQ:CLSD) from a sell rating to a hold rating in a report published on Friday morning.

A number of other research analysts have also issued reports on the company. Needham & Company LLC lifted their target price on Clearside Biomedical from $4.00 to $6.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Oppenheimer initiated coverage on Clearside Biomedical in a report on Tuesday, June 25th. They set an “outperform” rating and a $5.00 target price on the stock. Chardan Capital reiterated a “buy” rating and issued a $6.00 price target on shares of Clearside Biomedical in a research report on Monday, October 14th. Finally, HC Wainwright reiterated a “buy” rating and issued a $5.00 price target on shares of Clearside Biomedical in a research report on Tuesday, August 27th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $5.17.

Clearside Biomedical Stock Up 14.8 %

NASDAQ:CLSD opened at $1.32 on Friday. The business’s 50-day moving average price is $1.16 and its 200 day moving average price is $1.21. The firm has a market cap of $98.64 million, a P/E ratio of -2.40 and a beta of 2.35. Clearside Biomedical has a 52-week low of $0.65 and a 52-week high of $2.12.

Clearside Biomedical (NASDAQ:CLSD) last released its 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 for the quarter, compared to analyst estimates of $0.25 million. During the same period in the previous year, the firm earned ($0.15) earnings per share. Sell-side analysts expect that Clearside Biomedical will post -0.56 EPS for the current year.

Hedge Funds Weigh In On Clearside Biomedical

Hedge funds and other institutional investors have recently modified their holdings of the stock. SG Americas Securities LLC acquired a new stake in Clearside Biomedical during the 1st quarter worth about $49,000. International Assets Investment Management LLC acquired a new stake in Clearside Biomedical during the 1st quarter worth about $57,000. XTX Topco Ltd boosted its position in Clearside Biomedical by 172.2% during the 2nd quarter. XTX Topco Ltd now owns 54,313 shares of the company’s stock worth $71,000 after acquiring an additional 34,359 shares during the period. Assenagon Asset Management S.A. acquired a new stake in Clearside Biomedical during the 2nd quarter worth about $368,000. Finally, Renaissance Technologies LLC boosted its position in Clearside Biomedical by 6.6% during the 2nd quarter. Renaissance Technologies LLC now owns 582,689 shares of the company’s stock worth $757,000 after acquiring an additional 35,900 shares during the period. Institutional investors and hedge funds 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.