Clearside Biomedical (NASDAQ:CLSD) Earns Buy Rating from Needham & Company LLC

Clearside Biomedical (NASDAQ:CLSD)‘s stock had its “buy” rating reiterated by analysts at Needham & Company LLC in a note issued to investors on Tuesday,Benzinga reports. They presently have a $4.00 price objective on the stock. Needham & Company LLC’s price objective would indicate a potential upside of 373.20% from the company’s current price.

Several other equities analysts have also recently issued reports on CLSD. HC Wainwright restated a “buy” rating and issued a $6.00 price target on shares of Clearside Biomedical in a research report on Monday, March 31st. Chardan Capital reissued a “buy” rating and set a $6.00 target price on shares of Clearside Biomedical in a research report on Friday, March 28th. Finally, StockNews.com cut shares of Clearside Biomedical from a “hold” rating to a “sell” rating in a research report on Tuesday, March 18th. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $5.25.

Clearside Biomedical Price Performance

Shares of NASDAQ CLSD opened at $0.85 on Tuesday. The company’s 50 day simple moving average is $0.96 and its 200 day simple moving average is $1.03. Clearside Biomedical has a fifty-two week low of $0.77 and a fifty-two week high of $1.65. The firm has a market capitalization of $65.21 million, a P/E ratio of -1.88 and a beta of 2.04.

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

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Investor s Fiduciary Advisor Network LLC purchased a new stake in shares of Clearside Biomedical during the 4th quarter valued at about $32,000. Northern Trust Corp lifted its holdings in Clearside Biomedical by 24.0% during the 4th 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 in the last quarter. Finally, Geode Capital Management LLC increased its holdings in Clearside Biomedical by 8.8% during 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 during the period. 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.