HC Wainwright Reaffirms “Buy” Rating for Clearside Biomedical (NASDAQ:CLSD)

Clearside Biomedical (NASDAQ:CLSD)‘s stock had its “buy” rating reiterated by analysts at HC Wainwright in a report issued on Monday,Benzinga reports. They presently have a $6.00 target price on the stock.

A number of other equities research analysts also recently commented on CLSD. Needham & Company LLC dropped their price objective on shares of Clearside Biomedical from $6.00 to $4.00 and set a “buy” rating on the stock in a research report on Friday. Chardan Capital reissued a “buy” rating and issued a $6.00 target price on shares of Clearside Biomedical in a report on Friday. Finally, StockNews.com downgraded Clearside Biomedical from a “hold” rating to a “sell” rating in a report on Tuesday, March 18th. One equities research 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 company has a consensus rating of “Moderate Buy” and an average target price of $5.25.

Clearside Biomedical Stock Down 7.8 %

Shares of CLSD stock opened at $0.95 on Monday. The stock has a market capitalization of $72.05 million, a PE ratio of -2.11 and a beta of 2.10. The firm has a 50 day moving average of $0.96 and a two-hundred day moving average of $1.05. Clearside Biomedical has a 52 week low of $0.77 and a 52 week high of $1.65.

Clearside Biomedical (NASDAQ:CLSD) last announced its quarterly earnings data on Thursday, March 27th. The company reported ($0.10) earnings per share (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 analysts’ expectations of $0.27 million. Analysts expect that Clearside Biomedical will post -0.48 EPS for the current fiscal year.

Institutional Investors Weigh In On Clearside Biomedical

Several hedge funds have recently modified their holdings of the stock. Geode Capital Management LLC lifted its stake 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 acquiring an additional 59,089 shares during the period. Northern Trust Corp raised its holdings in Clearside Biomedical by 24.0% during 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 in the last quarter. Finally, Investor s Fiduciary Advisor Network LLC acquired a new stake in Clearside Biomedical in the fourth quarter valued at about $32,000. 18.75% of the stock is owned by institutional investors and hedge funds.

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.