Needham & Company LLC Reiterates Buy Rating for Clearside Biomedical (NASDAQ:CLSD)

Needham & Company LLC restated their buy rating on shares of Clearside Biomedical (NASDAQ:CLSD) in a research note issued to investors on Thursday morning, Benzinga reports. The brokerage currently has a $4.00 target price on the stock.

A number of other research firms also recently commented on CLSD. StockNews.com downgraded shares of Clearside Biomedical from a hold rating to a sell rating in a research note on Friday, May 10th. HC Wainwright dropped their target price on shares of Clearside Biomedical from $6.00 to $5.00 and set a buy rating on the stock in a report on Monday, May 13th. Finally, Oppenheimer began coverage on shares of Clearside Biomedical in a report on Tuesday, June 25th. They issued an outperform rating and a $5.00 target price on the stock. One equities research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Clearside Biomedical presently has an average rating of Moderate Buy and an average target price of $4.60.

Clearside Biomedical Price Performance

Clearside Biomedical stock opened at $1.17 on Thursday. The firm has a 50-day moving average of $1.24 and a 200-day moving average of $1.34. Clearside Biomedical has a one year low of $0.65 and a one year high of $2.12. The company has a market cap of $87.43 million, a price-to-earnings ratio of -2.13 and a beta of 2.43.

Clearside Biomedical (NASDAQ:CLSD) last posted its quarterly earnings data on Thursday, May 9th. The company reported ($0.17) EPS for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.03). The firm had revenue of $0.23 million for the quarter, compared to the consensus estimate of $0.98 million. During the same period last year, the company posted ($0.15) EPS. As a group, sell-side analysts expect that Clearside Biomedical will post -0.63 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. SG Americas Securities LLC bought a new position in Clearside Biomedical in the 1st quarter valued at about $49,000. International Assets Investment Management LLC bought a new position in Clearside Biomedical in the 1st quarter valued at about $57,000. Assenagon Asset Management S.A. bought a new position in Clearside Biomedical in the 2nd quarter valued at about $368,000. Vanguard Group Inc. increased its holdings in shares of Clearside Biomedical by 14.5% during the first quarter. Vanguard Group Inc. now owns 2,490,796 shares of the company’s stock worth $3,811,000 after purchasing an additional 314,480 shares during the period. Finally, Rosalind Advisors Inc. bought a new position in shares of Clearside Biomedical during the first quarter worth approximately $3,967,000. 18.75% of the stock is owned by institutional investors.

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.