Clearside Biomedical’s (CLSD) Buy Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Clearside Biomedical (NASDAQ:CLSD) in a research report sent to investors on Wednesday morning,Benzinga reports. Needham & Company LLC currently has a $6.00 price objective on the stock.

Several other research firms have also commented on CLSD. Chardan Capital reaffirmed a “buy” rating and set a $6.00 price target on shares of Clearside Biomedical in a research report on Monday, October 14th. HC Wainwright reiterated a “buy” rating and issued a $5.00 target price on shares of Clearside Biomedical in a research note on Tuesday, August 27th. Finally, StockNews.com downgraded Clearside Biomedical from a “hold” rating to a “sell” rating in a research note on Friday, November 8th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $5.33.

Clearside Biomedical Stock Down 5.7 %

CLSD opened at $0.99 on Wednesday. The firm has a market cap of $75.08 million, a price-to-earnings ratio of -2.20 and a beta of 2.33. Clearside Biomedical has a 52 week low of $0.90 and a 52 week high of $2.12. The business’s 50 day moving average is $1.19 and its two-hundred day moving average is $1.19.

Clearside Biomedical (NASDAQ:CLSD) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.10) EPS for the quarter, topping the consensus estimate of ($0.14) by $0.04. The firm had revenue of $1.04 million for the quarter, compared to analyst estimates of $0.25 million. During the same period last year, the firm earned ($0.15) EPS. Equities analysts expect that Clearside Biomedical will post -0.56 EPS for the current fiscal year.

Insider Activity at Clearside Biomedical

In other Clearside Biomedical news, insider Ngai Hang Victor Chong purchased 36,500 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The shares were purchased at an average cost of $1.00 per share, for a total transaction of $36,500.00. Following the completion of the purchase, the insider now directly owns 100,000 shares in the company, valued at $100,000. This represents a 57.48 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 9.20% of the company’s stock.

Institutional Trading of Clearside Biomedical

A number of institutional investors have recently modified their holdings of CLSD. Geode Capital Management LLC raised its holdings in Clearside Biomedical by 8.8% during the third 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 during the last quarter. Johnson & Johnson acquired a new position in Clearside Biomedical during the third quarter worth $105,000. XTX Topco Ltd raised its holdings in Clearside Biomedical by 172.2% during the second quarter. XTX Topco Ltd now owns 54,313 shares of the company’s stock worth $71,000 after purchasing an additional 34,359 shares during the last quarter. Renaissance Technologies LLC raised its holdings in Clearside Biomedical by 6.6% during the second quarter. Renaissance Technologies LLC now owns 582,689 shares of the company’s stock worth $757,000 after purchasing an additional 35,900 shares during the last quarter. Finally, Assenagon Asset Management S.A. acquired a new position in Clearside Biomedical during the second quarter worth $368,000. 18.75% of the stock is currently owned by hedge funds and other 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.