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

Clearside Biomedical (NASDAQ:CLSD)‘s stock had its “buy” rating restated by research analysts at HC Wainwright in a research report issued to clients and investors on Monday,Benzinga reports. They currently have a $6.00 price objective on the stock.

Several other equities analysts have also weighed in on the stock. Chardan Capital reiterated a “buy” rating and issued a $6.00 target price on shares of Clearside Biomedical in a report on Friday. StockNews.com cut Clearside Biomedical from a “hold” rating to a “sell” rating in a report on Tuesday, March 18th. Finally, Needham & Company LLC cut their target price on Clearside Biomedical from $6.00 to $4.00 and set a “buy” rating for the company in a research note on Friday. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $5.25.

Clearside Biomedical Price Performance

Shares of Clearside Biomedical stock opened at $0.95 on Monday. Clearside Biomedical has a 1-year low of $0.77 and a 1-year high of $1.65. The stock has a market cap of $72.05 million, a P/E ratio of -2.11 and a beta of 2.10. The stock’s 50 day simple moving average is $0.96 and its 200-day simple moving average is $1.05.

Clearside Biomedical (NASDAQ:CLSD) last issued its earnings results on Thursday, March 27th. The company reported ($0.10) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.03. The company had revenue of $0.31 million during the quarter, compared to analyst estimates of $0.27 million. As a group, research analysts expect that Clearside Biomedical will post -0.48 EPS for the current fiscal year.

Hedge Funds Weigh In On Clearside Biomedical

A number of hedge funds have recently made changes to their positions in the stock. Geode Capital Management LLC raised its position in Clearside Biomedical by 8.8% in the third 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 during the period. Investor s Fiduciary Advisor Network LLC acquired a new stake in shares of Clearside Biomedical in the fourth quarter valued at $32,000. Finally, Northern Trust Corp raised its holdings in shares of Clearside Biomedical by 24.0% in the 4th quarter. Northern Trust Corp now owns 165,499 shares of the company’s stock valued at $157,000 after buying 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.