Clearside Biomedical (NASDAQ:CLSD) Earns “Buy” Rating from Chardan Capital

Chardan Capital reaffirmed their buy rating on shares of Clearside Biomedical (NASDAQ:CLSD) in a research report sent to investors on Monday morning, Benzinga reports. They currently have a $6.00 target price on the stock.

A number of other research firms also recently commented on CLSD. HC Wainwright reiterated a “buy” rating and set a $5.00 target price on shares of Clearside Biomedical in a research report on Tuesday, August 27th. Oppenheimer assumed coverage on shares of Clearside Biomedical in a research report on Tuesday, June 25th. They set an “outperform” rating and a $5.00 price objective for the company. Finally, Needham & Company LLC boosted their target price on shares of Clearside Biomedical from $4.00 to $6.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. One investment analyst has rated the stock with a sell rating and six have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $5.17.

Clearside Biomedical Stock Performance

Shares of NASDAQ CLSD opened at $1.12 on Monday. The company has a market cap of $83.70 million, a P/E ratio of -2.04 and a beta of 2.35. Clearside Biomedical has a 52-week low of $0.65 and a 52-week high of $2.12. The firm’s fifty day moving average is $1.16 and its two-hundred day moving average is $1.22.

Clearside Biomedical (NASDAQ:CLSD) last issued its earnings results on Monday, August 12th. The company reported ($0.10) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.14) by $0.04. The firm had revenue of $0.09 million during the quarter, compared to the consensus estimate of $0.25 million. During the same period last year, the firm posted ($0.15) earnings per share. As a group, analysts forecast that Clearside Biomedical will post -0.56 EPS for the current fiscal year.

Institutional Investors Weigh In On Clearside Biomedical

Several institutional investors have recently made changes to their positions in the company. SG Americas Securities LLC purchased a new stake in Clearside Biomedical in the 1st quarter worth about $49,000. International Assets Investment Management LLC bought a new position in shares of Clearside Biomedical during the first quarter valued at approximately $57,000. XTX Topco Ltd raised 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 worth $71,000 after buying an additional 34,359 shares during the period. Assenagon Asset Management S.A. bought a new stake in shares of Clearside Biomedical during the 2nd quarter worth approximately $368,000. Finally, Renaissance Technologies LLC boosted its holdings in Clearside Biomedical by 6.6% during the 2nd 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 period. 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.