Clearside Biomedical’s (CLSD) Buy Rating Reaffirmed at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Clearside Biomedical (NASDAQ:CLSD) in a research note published on Thursday morning,Benzinga reports. The brokerage currently has a $6.00 target price on the stock.

Several other equities research analysts have also recently issued reports on the company. StockNews.com cut Clearside Biomedical from a “hold” rating to a “sell” rating in a report on Friday, November 8th. Needham & Company LLC restated a “buy” rating and set a $6.00 target price on shares of Clearside Biomedical in a research report on Wednesday. Finally, Chardan Capital reiterated a “buy” rating and issued a $6.00 price target on shares of Clearside Biomedical in a research report on Monday, October 14th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $5.33.

Clearside Biomedical Trading Down 5.7 %

NASDAQ CLSD opened at $0.99 on Thursday. Clearside Biomedical has a 12 month low of $0.90 and a 12 month high of $2.12. The stock has a market cap of $75.08 million, a PE ratio of -2.20 and a beta of 2.33. The stock’s 50 day moving average is $1.19 and its 200 day moving average is $1.19.

Clearside Biomedical (NASDAQ:CLSD) last issued its earnings results on Tuesday, November 12th. The company reported ($0.10) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.04. The company had revenue of $1.04 million for the quarter, compared to the consensus estimate of $0.25 million. During the same quarter in the prior year, the company posted ($0.15) EPS. On average, analysts forecast that Clearside Biomedical will post -0.56 EPS for the current fiscal year.

Insiders Place Their Bets

In other Clearside Biomedical news, insider Ngai Hang Victor Chong bought 36,500 shares of Clearside Biomedical stock in a transaction on Friday, November 1st. The shares were acquired at an average price of $1.00 per share, for a total transaction of $36,500.00. Following the completion of the purchase, the insider now directly owns 100,000 shares in the company, valued at approximately $100,000. This trade represents a 57.48 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 9.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in CLSD. SG Americas Securities LLC purchased a new stake in Clearside Biomedical in the 1st quarter valued at about $49,000. Vanguard Group Inc. raised its stake in shares of Clearside Biomedical by 14.5% during the first quarter. Vanguard Group Inc. now owns 2,490,796 shares of the company’s stock valued at $3,811,000 after acquiring an additional 314,480 shares in the last quarter. Assenagon Asset Management S.A. purchased a new stake in shares of Clearside Biomedical in the second quarter valued at approximately $368,000. Renaissance Technologies LLC grew its stake in Clearside Biomedical by 6.6% in the second quarter. Renaissance Technologies LLC now owns 582,689 shares of the company’s stock worth $757,000 after purchasing an additional 35,900 shares in the last quarter. Finally, XTX Topco Ltd raised its position in Clearside Biomedical by 172.2% during the 2nd quarter. XTX Topco Ltd now owns 54,313 shares of the company’s stock valued at $71,000 after purchasing an additional 34,359 shares in the last quarter. Hedge funds and other institutional investors own 18.75% of the company’s stock.

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.