Clearside Biomedical, Inc. (NASDAQ:CLSD) Receives Consensus Rating of “Buy” from Brokerages

Clearside Biomedical, Inc. (NASDAQ:CLSD) has been assigned a consensus recommendation of “Buy” from the six analysts that are currently covering the company, MarketBeat reports. Six equities research analysts have rated the stock with a buy rating. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $5.33.

Several equities analysts have recently weighed in on CLSD shares. StockNews.com upgraded Clearside Biomedical from a “sell” rating to a “hold” rating in a research report on Thursday, December 12th. Chardan Capital reissued a “buy” rating and issued a $6.00 target price on shares of Clearside Biomedical in a research note on Friday, November 15th. HC Wainwright reissued a “buy” rating and set a $6.00 price target on shares of Clearside Biomedical in a research report on Thursday. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $6.00 target price on shares of Clearside Biomedical in a research note on Thursday.

Clearside Biomedical Stock Up 14.8 %

Shares of NASDAQ:CLSD opened at $0.98 on Friday. The firm has a 50 day moving average of $0.96 and a 200 day moving average of $1.06. Clearside Biomedical has a 52 week low of $0.77 and a 52 week high of $2.12. The company has a market capitalization of $74.03 million, a price-to-earnings ratio of -2.17 and a beta of 2.10.

Institutional Investors Weigh In On Clearside Biomedical

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC raised its holdings in Clearside Biomedical by 4.5% in the 4th quarter. Geode Capital Management LLC now owns 764,058 shares of the company’s stock worth $726,000 after acquiring an additional 32,672 shares during the period. Northern Trust Corp lifted its stake 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 period. Johnson & Johnson bought a new stake in Clearside Biomedical in the third quarter valued at $105,000. Finally, Investor s Fiduciary Advisor Network LLC bought a new position in Clearside Biomedical during the 4th quarter valued at about $32,000. Hedge funds and other institutional investors own 18.75% of the company’s stock.

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.