Clearside Biomedical, Inc. (NASDAQ:CLSD – Free Report) shares have received a consensus rating of “Buy” from the five brokerages that cover the company, MarketBeat.com reports. Five equities analysts have rated the stock with a Buy rating. The average 12-month price target among analysts who have updated their coverage on the stock in the last year is $4.60.
Several equities analysts have recently issued reports on the company. StockNews.com downgraded Clearside Biomedical from a “hold” rating to a “sell” rating in a report on Friday, May 10. Oppenheimer began coverage on Clearside Biomedical in a report on Tuesday, June 25. They issued an “outperform” rating and a $5.00 price target on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $4.00 price target on shares of Clearside Biomedical in a report on Tuesday. Finally, HC Wainwright reiterated a “buy” rating and issued a $5.00 price target on shares of Clearside Biomedical in a research note on Tuesday.
Check out our latest analysis on Clearside Biomedical
Clearside Biomedical trading down 0.5%
Clearside Biomedical stock opened at $1.07 on Wednesday. Clearside Biomedical has a 12-month low of $0.65 and a 12-month high of $2.12. The company has a market cap of $79.59 million, a price-to-earnings ratio of -1.94 and a beta of 2.43. The company has a 50-day moving average of $1.18 and a 200-day moving average of $1.32.
Clearside Biomedical (NASDAQ:CLSD – Free Report) last released its quarterly earnings results on Monday, August 12. The company reported -$0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of -$0.14 by $0.04. The company had revenue of $0.09 million during the quarter, compared to analyst expectations of $0.25 million. During the same quarter last year, the company reported -$0.15 earnings per share. On average, analysts forecast that Clearside Biomedical will post -$0.6 earnings per share for the current year.
Institutional investors comment on Clearside Biomedical
Several hedge funds have recently made changes to their positions in the company. SG Americas Securities LLC bought a new position in Clearside Biomedical in the first quarter valued at about $49,000. International Assets Investment Management LLC bought a new position in shares of Clearside Biomedical in the first quarter valued at $57,000. XTX Topco Ltd increased its holdings in shares of Clearside Biomedical by 172.2% in the second 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. Assenagon Asset Management SA bought a new position in Clearside Biomedical in the second quarter valued at about $368,000. Finally, Renaissance Technologies LLC increased its holdings in Clearside Biomedical by 6.6% in the second quarter. Renaissance Technologies LLC now owns 582,689 shares of the company’s stock valued at $757,000 after acquiring an additional 35,900 shares during the last quarter. 18.75% of the shares are currently owned by hedge funds and other institutional investors.
About Clearside Biomedical
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Clearside Biomedical, Inc., a biopharmaceutical company focused on revolutionizing the delivery of therapies to the back of the eye through the suprachoroidal space, offers XIPERE, a suprachoroidal suspension for injection containing triamcinolone acetonide for the treatment of uveitis macular edema, and is developing CLS-AX, an axitinib suspension for injection for suprachoroidal injection that is in Phase IIb clinical trials for the treatment of wet AMD.
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