Brokerages Set Clearside Biomedical, Inc. (NASDAQ:CLSD) Price Target at $4.83

Clearside Biomedical, Inc. (NASDAQ:CLSD) has been assigned an average rating of “Buy” from the six research firms that are presently covering the stock, Marketbeat Ratings reports. Six analysts have rated the stock with a buy rating. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $4.83.

A number of research analysts recently commented on CLSD shares. Chardan Capital began coverage on Clearside Biomedical in a report on Wednesday, August 21st. They issued a “buy” rating and a $6.00 price target on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $4.00 target price on shares of Clearside Biomedical in a research note on Tuesday, August 13th. HC Wainwright reiterated a “buy” rating and issued a $5.00 price target on shares of Clearside Biomedical in a research note on Tuesday, August 27th. Finally, Oppenheimer initiated coverage on shares of Clearside Biomedical in a report on Tuesday, June 25th. They set an “outperform” rating and a $5.00 price objective for the company.

Clearside Biomedical Price Performance

CLSD opened at $1.58 on Thursday. The firm has a market cap of $118.07 million, a P/E ratio of -2.87 and a beta of 2.35. Clearside Biomedical has a 1-year low of $0.65 and a 1-year high of $2.12. The company has a 50 day simple moving average of $1.13 and a two-hundred day simple moving average of $1.24.

Clearside Biomedical (NASDAQ:CLSD) last issued its quarterly earnings results on Monday, August 12th. The company reported ($0.10) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.04. The business had revenue of $0.09 million during the quarter, compared to analysts’ expectations of $0.25 million. During the same quarter in the previous year, the company posted ($0.15) EPS. Equities analysts anticipate that Clearside Biomedical will post -0.56 earnings per share for the current year.

Institutional Trading of Clearside Biomedical

A number of large investors have recently made changes to their positions in CLSD. SG Americas Securities LLC purchased a new position in Clearside Biomedical in the first quarter worth about $49,000. International Assets Investment Management LLC purchased a new position in shares of Clearside Biomedical in the 1st quarter worth approximately $57,000. XTX Topco Ltd increased its position in shares of 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 during the last quarter. Assenagon Asset Management S.A. purchased a new stake in Clearside Biomedical during the 2nd quarter valued at $368,000. Finally, Renaissance Technologies LLC lifted its position 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 buying an additional 35,900 shares during the last quarter. 18.75% of the stock is currently owned by institutional investors.

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.