Chardan Capital Reiterates Buy Rating for Clearside Biomedical (NASDAQ:CLSD)

Chardan Capital restated their buy rating on shares of Clearside Biomedical (NASDAQ:CLSD) in a research report sent to investors on Friday morning,Benzinga reports. Chardan Capital currently has a $6.00 price target on the stock.

CLSD has been the topic of a number of other research reports. HC Wainwright reissued a “buy” rating and issued a $6.00 price objective on shares of Clearside Biomedical in a research note on Thursday, November 14th. Needham & Company LLC reissued a “buy” rating and issued a $6.00 price objective on shares of Clearside Biomedical in a research note on Wednesday, November 13th. 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 issued a buy rating to the stock. Based on data from MarketBeat, Clearside Biomedical presently has an average rating of “Moderate Buy” and a consensus target price of $5.33.

Clearside Biomedical Price Performance

NASDAQ:CLSD opened at $1.02 on Friday. Clearside Biomedical has a 12-month low of $0.92 and a 12-month high of $2.12. The firm has a market capitalization of $77.36 million, a P/E ratio of -2.22 and a beta of 2.33. The business has a 50 day simple moving average of $1.19 and a 200 day simple moving average of $1.19.

Clearside Biomedical (NASDAQ:CLSD) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.10) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.04. The company had revenue of $1.04 million for the quarter, compared to analyst estimates of $0.25 million. During the same quarter in the prior year, the firm earned ($0.15) EPS. Research analysts anticipate that Clearside Biomedical will post -0.51 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Ngai Hang Victor Chong bought 36,500 shares of the firm’s stock in a transaction on Friday, November 1st. The stock was purchased at an average price of $1.00 per share, with a total value of $36,500.00. Following the completion of the transaction, the insider now directly owns 100,000 shares of the company’s stock, valued at $100,000. This trade represents a 57.48 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 9.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. SG Americas Securities LLC acquired a new stake in shares of Clearside Biomedical during the 1st quarter worth approximately $49,000. Vanguard Group Inc. boosted its stake in Clearside Biomedical by 14.5% during 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. bought a new stake in Clearside Biomedical in the 2nd quarter valued at $368,000. Renaissance Technologies LLC raised its stake in shares of Clearside Biomedical by 6.6% in the 2nd quarter. Renaissance Technologies LLC now owns 582,689 shares of the company’s stock valued at $757,000 after buying an additional 35,900 shares in the last quarter. Finally, XTX Topco Ltd raised its stake 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 valued at $71,000 after buying an additional 34,359 shares in the last quarter. 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.