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

HC Wainwright reaffirmed their buy rating on shares of Clearside Biomedical (NASDAQ:CLSD) in a research note published on Thursday,Benzinga reports. HC Wainwright currently has a $6.00 price target on the stock.

A number of other equities analysts have also commented on CLSD. Needham & Company LLC reissued a “buy” rating and issued a $6.00 price target on shares of Clearside Biomedical in a report on Wednesday, November 13th. Chardan Capital restated a “buy” rating and set a $6.00 price target on shares of Clearside Biomedical in a research report on Monday, October 14th. Finally, StockNews.com cut Clearside Biomedical from a “hold” rating to a “sell” rating in a report 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, Clearside Biomedical presently has a consensus rating of “Moderate Buy” and an average price target of $5.33.

Clearside Biomedical Stock Down 5.7 %

Shares of NASDAQ CLSD opened at $0.99 on Thursday. The stock’s 50-day simple moving average is $1.19 and its two-hundred day simple moving average is $1.19. Clearside Biomedical has a twelve month low of $0.90 and a twelve month high of $2.12. The firm has a market capitalization of $75.08 million, a P/E ratio of -2.20 and a beta of 2.33.

Clearside Biomedical (NASDAQ:CLSD) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.10) EPS for the quarter, topping the consensus estimate of ($0.14) by $0.04. The business had revenue of $1.04 million for the quarter, compared to analysts’ expectations of $0.25 million. During the same period in the previous year, the firm posted ($0.15) EPS. As a group, research analysts anticipate that Clearside Biomedical will post -0.51 EPS for the current fiscal year.

Insider Activity

In other news, insider Ngai Hang Victor Chong bought 36,500 shares of the business’s stock in a transaction dated Friday, November 1st. The shares were purchased at an average price of $1.00 per share, for a total transaction of $36,500.00. Following the completion of the acquisition, the insider now owns 100,000 shares of the company’s stock, valued at approximately $100,000. This trade represents a 57.48 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 9.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Clearside Biomedical

Large investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC bought a new position in shares of Clearside Biomedical during the first quarter valued at about $49,000. Vanguard Group Inc. raised its stake in Clearside Biomedical by 14.5% in the first quarter. Vanguard Group Inc. now owns 2,490,796 shares of the company’s stock worth $3,811,000 after buying an additional 314,480 shares in the last quarter. Assenagon Asset Management S.A. purchased a new stake in Clearside Biomedical in the second quarter worth about $368,000. Renaissance Technologies LLC boosted its position in Clearside Biomedical by 6.6% during the 2nd 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 in the last quarter. Finally, XTX Topco Ltd raised its position in shares of Clearside Biomedical by 172.2% in the 2nd quarter. XTX Topco Ltd now owns 54,313 shares of the company’s stock worth $71,000 after acquiring an additional 34,359 shares in the last quarter. 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.