Needham & Company LLC Cuts Clearside Biomedical (NASDAQ:CLSD) Price Target to $4.00

Clearside Biomedical (NASDAQ:CLSD) had its price target decreased by research analysts at Needham & Company LLC from $6.00 to $4.00 in a report issued on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Needham & Company LLC’s price objective would indicate a potential upside of 288.35% from the company’s previous close.

Other research analysts also recently issued reports about the company. HC Wainwright reissued a “buy” rating and issued a $6.00 price objective on shares of Clearside Biomedical in a research note on Thursday, March 6th. StockNews.com lowered shares of Clearside Biomedical from a “hold” rating to a “sell” rating in a research report 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’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $5.25.

Clearside Biomedical Stock Up 1.0 %

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

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

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Investor s Fiduciary Advisor Network LLC bought a new position in Clearside Biomedical during the fourth quarter worth $32,000. Northern Trust Corp increased its holdings in shares of Clearside Biomedical by 24.0% during the 4th quarter. Northern Trust Corp now owns 165,499 shares of the company’s stock worth $157,000 after purchasing an additional 32,048 shares during the period. Finally, Geode Capital Management LLC increased its holdings 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 purchasing 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.