Needham & Company LLC Cuts Clearside Biomedical (NASDAQ:CLSD) Price Target to $4.00

Clearside Biomedical (NASDAQ:CLSD) had its price target lowered by Needham & Company LLC from $6.00 to $4.00 in a research note issued to investors on Friday,Benzinga reports. Needham & Company LLC currently has a buy rating on the stock.

Several other research analysts have also recently issued reports on CLSD. HC Wainwright restated a “buy” rating and issued a $6.00 target price on shares of Clearside Biomedical in a report on Thursday, March 6th. StockNews.com lowered shares of Clearside Biomedical from a “hold” rating to a “sell” rating in a report on Tuesday, March 18th. One 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, Clearside Biomedical has a consensus rating of “Moderate Buy” and an average price target of $5.25.

Clearside Biomedical Stock Down 7.8 %

NASDAQ CLSD opened at $0.95 on Friday. The company has a 50-day simple moving average of $0.96 and a two-hundred day simple moving average of $1.05. Clearside Biomedical has a 12-month low of $0.77 and a 12-month high of $1.65. The firm has a market cap of $72.05 million, a price-to-earnings ratio of -2.11 and a beta of 2.10.

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

Institutional Trading of Clearside Biomedical

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Geode Capital Management LLC raised its holdings in Clearside Biomedical by 8.8% in the 3rd quarter. Geode Capital Management LLC now owns 731,386 shares of the company’s stock worth $929,000 after purchasing an additional 59,089 shares in the last quarter. Investor s Fiduciary Advisor Network LLC purchased a new position in shares of Clearside Biomedical during the fourth quarter valued at about $32,000. Finally, Northern Trust Corp increased its position in shares of 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 buying an additional 32,048 shares during the period. Hedge funds and other institutional investors 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.