Clearside Biomedical (NASDAQ:CLSD) Price Target Cut to $3.00 by Analysts at Needham & Company LLC

Clearside Biomedical (NASDAQ:CLSD) had its target price reduced by Needham & Company LLC from $4.00 to $3.00 in a research note issued to investors on Thursday morning,Benzinga reports. They currently have a buy rating on the stock.

A number of other brokerages have also recently commented on CLSD. StockNews.com cut shares of Clearside Biomedical from a “hold” rating to a “sell” rating in a research note on Friday, May 9th. HC Wainwright reissued a “buy” rating and set a $6.00 price objective on shares of Clearside Biomedical in a research note on Monday, March 31st. Finally, Chardan Capital reaffirmed a “buy” rating and issued a $6.00 price objective on shares of Clearside Biomedical in a research note on Friday, March 28th. One research analyst has rated the stock with a sell rating and four have given a buy rating to the stock. According to data from MarketBeat, Clearside Biomedical presently has a consensus rating of “Moderate Buy” and a consensus target price of $5.00.

Clearside Biomedical Trading Up 1.2%

Shares of Clearside Biomedical stock opened at $0.86 on Thursday. The firm has a market cap of $66.81 million, a PE ratio of -1.92 and a beta of 2.11. The stock has a 50 day moving average of $0.88 and a 200 day moving average of $0.95. Clearside Biomedical has a 12 month low of $0.70 and a 12 month high of $1.65.

Clearside Biomedical (NASDAQ:CLSD) last posted its earnings results on Wednesday, May 14th. The company reported ($0.11) EPS for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.01. The firm had revenue of $2.33 million for the quarter, compared to the consensus estimate of $0.20 million. As a group, equities research analysts forecast that Clearside Biomedical will post -0.48 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Clearside Biomedical

A number of large investors have recently made changes to their positions in the company. Geode Capital Management LLC boosted its position in shares of Clearside Biomedical by 4.5% during the fourth quarter. Geode Capital Management LLC now owns 764,058 shares of the company’s stock valued at $726,000 after buying an additional 32,672 shares during the period. Investor s Fiduciary Advisor Network LLC bought a new position in Clearside Biomedical in the 4th quarter valued at $32,000. Finally, Northern Trust Corp increased its stake in Clearside Biomedical by 24.0% in the fourth quarter. Northern Trust Corp now owns 165,499 shares of the company’s stock worth $157,000 after purchasing an additional 32,048 shares during the period. 18.75% of the stock is 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.