Clearside Biomedical’s (CLSD) Buy Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of Clearside Biomedical (NASDAQ:CLSD) in a research note published on Wednesday,Benzinga reports. They currently have a $6.00 price target on the stock.

A number of other equities research analysts have also weighed in on the company. HC Wainwright restated a “buy” rating and set a $5.00 price target on shares of Clearside Biomedical in a research note on Tuesday, August 27th. StockNews.com downgraded Clearside Biomedical from a “hold” rating to a “sell” rating in a research note on Friday, November 8th. Finally, Chardan Capital reissued a “buy” rating and issued a $6.00 price objective on shares of Clearside Biomedical in a report on Monday, October 14th. One analyst has rated the stock with a sell rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Clearside Biomedical has an average rating of “Moderate Buy” and an average price target of $5.33.

Clearside Biomedical Trading Up 1.9 %

CLSD opened at $1.10 on Wednesday. The company has a market capitalization of $82.20 million, a price-to-earnings ratio of -2.40 and a beta of 2.33. The business’s fifty day simple moving average is $1.19 and its 200-day simple moving average is $1.19. Clearside Biomedical has a 12-month low of $0.90 and a 12-month high of $2.12.

Clearside Biomedical (NASDAQ:CLSD) last posted its quarterly earnings data on Monday, August 12th. The company reported ($0.10) EPS for the quarter, topping the consensus estimate of ($0.14) by $0.04. The firm had revenue of $0.09 million for the quarter, compared to the consensus estimate of $0.25 million. During the same quarter last year, the firm earned ($0.15) EPS. On average, equities research analysts predict that Clearside Biomedical will post -0.56 EPS for the current year.

Insider Buying and Selling

In related news, insider Ngai Hang Victor Chong acquired 36,500 shares of the 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 transaction, the insider now owns 100,000 shares in the company, valued at approximately $100,000. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 9.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Clearside Biomedical

A number of large investors have recently bought and sold shares of CLSD. SG Americas Securities LLC purchased a new position in shares of Clearside Biomedical during the 1st quarter valued at approximately $49,000. XTX Topco Ltd raised its position in Clearside Biomedical by 172.2% during the second quarter. XTX Topco Ltd now owns 54,313 shares of the company’s stock worth $71,000 after acquiring an additional 34,359 shares during the period. Johnson & Johnson purchased a new position in Clearside Biomedical during the third quarter valued at $105,000. Assenagon Asset Management S.A. acquired a new stake in shares of Clearside Biomedical in the second quarter valued at about $368,000. Finally, Renaissance Technologies LLC increased its stake in shares of Clearside Biomedical by 6.6% during 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. Institutional investors and hedge funds own 18.75% of the company’s stock.

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.