Clearside Biomedical (NASDAQ:CLSD) Rating Reiterated by Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Clearside Biomedical (NASDAQ:CLSD) in a research note published on Thursday, Benzinga reports. The firm currently has a $4.00 price target on the stock.

A number of other brokerages have also weighed in on CLSD. StockNews.com lowered Clearside Biomedical from a hold rating to a sell rating in a report on Friday, May 10th. HC Wainwright reduced their target price on shares of Clearside Biomedical from $6.00 to $5.00 and set a buy rating for the company in a research report on Monday, May 13th. Finally, Oppenheimer started coverage on shares of Clearside Biomedical in a research report on Tuesday, June 25th. They set an outperform rating and a $5.00 price target on the stock. One equities research analyst has rated the stock with a sell rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus target price of $4.60.

Clearside Biomedical Stock Up 3.5 %

Shares of NASDAQ CLSD opened at $1.17 on Thursday. The firm has a market cap of $87.43 million, a price-to-earnings ratio of -2.13 and a beta of 2.43. The company’s 50-day simple moving average is $1.24 and its 200-day simple moving average is $1.34. Clearside Biomedical has a 52-week low of $0.65 and a 52-week high of $2.12.

Clearside Biomedical (NASDAQ:CLSD) last posted its quarterly earnings data on Thursday, May 9th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.03). The company had revenue of $0.23 million during the quarter, compared to the consensus estimate of $0.98 million. During the same quarter last year, the firm posted ($0.15) EPS. Equities research analysts anticipate that Clearside Biomedical will post -0.63 EPS for the current fiscal year.

Institutional Investors Weigh In On Clearside Biomedical

Several hedge funds and other institutional investors have recently bought and sold shares of CLSD. SG Americas Securities LLC acquired a new position in Clearside Biomedical in the 1st quarter valued at about $49,000. International Assets Investment Management LLC purchased a new stake in shares of Clearside Biomedical during the 1st quarter valued at approximately $57,000. Assenagon Asset Management S.A. acquired a new position in Clearside Biomedical in the second quarter valued at approximately $368,000. Vanguard Group Inc. grew its position in Clearside Biomedical by 14.5% in the first quarter. Vanguard Group Inc. now owns 2,490,796 shares of the company’s stock worth $3,811,000 after acquiring an additional 314,480 shares during the period. Finally, Rosalind Advisors Inc. acquired a new stake in Clearside Biomedical during the first quarter worth $3,967,000. 18.75% of the stock is currently owned by institutional investors and hedge funds.

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.