Clearside Biomedical (NASDAQ:CLSD) Rating Increased to Hold at StockNews.com

StockNews.com upgraded shares of Clearside Biomedical (NASDAQ:CLSD) from a sell rating to a hold rating in a research report released on Friday morning.

A number of other research firms also recently commented on CLSD. Needham & Company LLC increased their price objective on Clearside Biomedical from $4.00 to $6.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Oppenheimer started coverage on shares of Clearside Biomedical in a research report on Tuesday, June 25th. They set an “outperform” rating and a $5.00 target price on the stock. Chardan Capital reiterated a “buy” rating and set a $6.00 price target on shares of Clearside Biomedical in a research note on Monday, October 14th. Finally, HC Wainwright reissued a “buy” rating and issued a $5.00 price objective on shares of Clearside Biomedical in a research note on Tuesday, August 27th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $5.17.

Clearside Biomedical Stock Performance

CLSD stock opened at $1.15 on Friday. The stock has a market cap of $85.94 million, a P/E ratio of -2.09 and a beta of 2.35. The firm has a 50 day simple moving average of $1.16 and a 200 day simple moving average of $1.21. Clearside Biomedical has a 52 week low of $0.65 and a 52 week high of $2.12.

Clearside Biomedical (NASDAQ:CLSD) last posted its quarterly earnings results on Monday, August 12th. The company reported ($0.10) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.04. The company had revenue of $0.09 million during the quarter, compared to analyst estimates of $0.25 million. During the same period last year, the company posted ($0.15) earnings per share. Sell-side analysts predict that Clearside Biomedical will post -0.56 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in CLSD. SG Americas Securities LLC bought a new position in Clearside Biomedical during the first quarter worth $49,000. International Assets Investment Management LLC bought a new position in shares of Clearside Biomedical during the 1st quarter worth about $57,000. XTX Topco Ltd raised its position in shares of Clearside Biomedical by 172.2% during the second quarter. XTX Topco Ltd now owns 54,313 shares of the company’s stock valued at $71,000 after buying an additional 34,359 shares during the last quarter. Assenagon Asset Management S.A. bought a new stake in shares of Clearside Biomedical in the second quarter valued at about $368,000. Finally, Renaissance Technologies LLC increased its stake in Clearside Biomedical by 6.6% during the second quarter. Renaissance Technologies LLC now owns 582,689 shares of the company’s stock valued at $757,000 after acquiring an additional 35,900 shares during the period. 18.75% of the stock is owned by institutional investors.

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.