Clearside Biomedical (NASDAQ:CLSD) Downgraded to “Sell” Rating by StockNews.com

Clearside Biomedical (NASDAQ:CLSD) was downgraded by equities research analysts at StockNews.com from a “hold” rating to a “sell” rating in a research note issued to investors on Tuesday.

CLSD has been the subject of a number of other research reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $6.00 price objective on shares of Clearside Biomedical in a research report on Thursday, March 6th. HC Wainwright reaffirmed a “buy” rating and issued a $6.00 price objective on shares of Clearside Biomedical in a research report on Thursday, March 6th. One research analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $5.75.

Clearside Biomedical Stock Up 9.0 %

Shares of NASDAQ:CLSD traded up $0.08 during midday trading on Tuesday, reaching $0.97. The company’s stock had a trading volume of 102,590 shares, compared to its average volume of 361,653. The firm has a market cap of $73.57 million, a price-to-earnings ratio of -2.16 and a beta of 2.10. Clearside Biomedical has a 1 year low of $0.77 and a 1 year high of $1.80. The business has a 50 day moving average price of $0.95 and a 200 day moving average price of $1.05.

Institutional Investors Weigh In On Clearside Biomedical

A number of institutional investors have recently added to or reduced their stakes in CLSD. Johnson & Johnson purchased a new stake in Clearside Biomedical during the third quarter valued at about $105,000. Geode Capital Management LLC grew its position in Clearside Biomedical by 8.8% during the third quarter. Geode Capital Management LLC now owns 731,386 shares of the company’s stock valued at $929,000 after acquiring an additional 59,089 shares during the period. Investor s Fiduciary Advisor Network LLC purchased a new stake in Clearside Biomedical during the fourth quarter valued at about $32,000. Finally, Northern Trust Corp grew its position in Clearside Biomedical by 24.0% during the fourth quarter. Northern Trust Corp now owns 165,499 shares of the company’s stock valued at $157,000 after acquiring an additional 32,048 shares during the period. 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.