Clearside Biomedical (NASDAQ:CLSD) Given New $4.00 Price Target at Needham & Company LLC

Clearside Biomedical (NASDAQ:CLSD) had its target price cut by Needham & Company LLC from $6.00 to $4.00 in a research note issued to investors on Friday morning,Benzinga reports. They currently have a buy rating on the stock.

A number of other research analysts have also weighed in on CLSD. StockNews.com lowered Clearside Biomedical from a “hold” rating to a “sell” rating in a research report on Tuesday, March 18th. HC Wainwright restated a “buy” rating and set a $6.00 price target on shares of Clearside Biomedical in a report on Thursday, March 6th. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. According to data from MarketBeat, Clearside Biomedical currently has an average rating of “Moderate Buy” and an average price target of $5.25.

Clearside Biomedical Price Performance

Shares of Clearside Biomedical stock opened at $0.95 on Friday. Clearside Biomedical has a 1 year low of $0.77 and a 1 year high of $1.65. The firm has a market cap of $72.05 million, a price-to-earnings ratio of -2.11 and a beta of 2.10. The company has a 50-day moving average of $0.96 and a 200 day moving average of $1.05.

Clearside Biomedical (NASDAQ:CLSD) last announced its earnings results on Thursday, March 27th. The company reported ($0.10) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.03. The business had revenue of $0.31 million for the quarter, compared to the consensus estimate of $0.27 million. On average, equities analysts anticipate that Clearside Biomedical will post -0.48 EPS for the current year.

Hedge Funds Weigh In On Clearside Biomedical

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CLSD. Geode Capital Management LLC increased its holdings in shares of Clearside Biomedical by 8.8% in 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 in the last quarter. Northern Trust Corp boosted its position in shares of Clearside Biomedical by 24.0% during the fourth 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 during the last quarter. Finally, Investor s Fiduciary Advisor Network LLC bought a new stake in Clearside Biomedical in the 4th quarter worth about $32,000. 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.