Brokerages Set Clearside Biomedical, Inc. (NASDAQ:CLSD) Price Target at $5.33

Clearside Biomedical, Inc. (NASDAQ:CLSD) has been given a consensus recommendation of “Buy” by the six brokerages that are covering the company, MarketBeat.com reports. Six analysts have rated the stock with a buy recommendation. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $5.33.

Several equities analysts have recently weighed in on the company. Needham & Company LLC reissued a “buy” rating and set a $6.00 target price on shares of Clearside Biomedical in a research report on Wednesday, November 13th. HC Wainwright reissued a “buy” rating and issued a $6.00 target price on shares of Clearside Biomedical in a research note on Thursday, November 14th. StockNews.com raised shares of Clearside Biomedical from a “sell” rating to a “hold” rating in a research note on Saturday, November 16th. Finally, Chardan Capital reissued a “buy” rating and issued a $6.00 price objective on shares of Clearside Biomedical in a research report on Friday, November 15th.

Insider Buying and Selling

In other news, insider Ngai Hang Victor Chong acquired 36,500 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The shares were bought at an average price of $1.00 per share, with a total value of $36,500.00. Following the completion of the purchase, the insider now directly owns 100,000 shares in the company, valued at $100,000. This trade represents a 57.48 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 9.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Clearside Biomedical

Institutional investors and hedge funds have recently bought and sold shares of the company. SG Americas Securities LLC purchased a new position in shares of Clearside Biomedical during the first quarter valued at $49,000. XTX Topco Ltd grew its holdings 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 in the last quarter. Renaissance Technologies LLC increased 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 valued at $757,000 after purchasing an additional 35,900 shares during the period. Geode Capital Management LLC raised its holdings 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 valued at $929,000 after purchasing an additional 59,089 shares in the last quarter. Finally, Johnson & Johnson bought a new position in shares of Clearside Biomedical during the third quarter valued at approximately $105,000. 18.75% of the stock is owned by institutional investors.

Clearside Biomedical Stock Down 0.9 %

CLSD stock opened at $1.07 on Friday. Clearside Biomedical has a 52 week low of $0.92 and a 52 week high of $2.12. The firm has a market capitalization of $81.15 million, a P/E ratio of -2.38 and a beta of 2.33. The company has a fifty day simple moving average of $1.16 and a two-hundred day simple moving average of $1.17.

Clearside Biomedical (NASDAQ:CLSD) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.10) EPS for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.04. The business had revenue of $1.04 million during the quarter, compared to the consensus estimate of $0.25 million. During the same period in the previous year, the business posted ($0.15) EPS. As a group, analysts anticipate that Clearside Biomedical will post -0.48 EPS 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.