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

Clearside Biomedical (NASDAQ:CLSD)‘s stock had its “buy” rating reissued by equities researchers at Chardan Capital in a research note issued to investors on Friday,Benzinga reports. They presently have a $6.00 price target on the stock. Chardan Capital’s target price suggests a potential upside of 482.52% from the company’s current price.

A number of other brokerages also recently commented on CLSD. Needham & Company LLC reduced their price objective on Clearside Biomedical from $6.00 to $4.00 and set a “buy” rating for the company in a research report on Friday. HC Wainwright reiterated a “buy” rating and issued a $6.00 price objective on shares of Clearside Biomedical in a research note on Thursday, March 6th. Finally, StockNews.com lowered Clearside Biomedical from a “hold” rating to a “sell” rating in a research note on Tuesday, March 18th. One research analyst has rated the stock with a sell rating and four have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $5.25.

Clearside Biomedical Stock Up 1.0 %

Shares of CLSD stock opened at $1.03 on Friday. Clearside Biomedical has a 12 month low of $0.77 and a 12 month high of $1.73. The company has a market cap of $78.12 million, a PE ratio of -2.29 and a beta of 2.10. The business’s 50 day moving average is $0.96 and its two-hundred day moving average is $1.05.

Clearside Biomedical (NASDAQ:CLSD) last posted its quarterly earnings data on Thursday, March 27th. The company reported ($0.10) earnings per share for the quarter, topping the consensus estimate of ($0.13) by $0.03. As a group, equities analysts expect that Clearside Biomedical will post -0.48 EPS for the current fiscal year.

Institutional Trading of Clearside Biomedical

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Investor s Fiduciary Advisor Network LLC bought a new position in Clearside Biomedical in the 4th quarter worth approximately $32,000. Northern Trust Corp boosted its stake in shares of Clearside Biomedical by 24.0% in the 4th quarter. Northern Trust Corp now owns 165,499 shares of the company’s stock valued at $157,000 after purchasing an additional 32,048 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in shares of Clearside Biomedical by 4.5% during the 4th quarter. Geode Capital Management LLC now owns 764,058 shares of the company’s stock worth $726,000 after buying an additional 32,672 shares during the period. 18.75% of the stock is currently owned by institutional investors and hedge funds.

About Clearside Biomedical

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.