Clearside Biomedical (NASDAQ:CLSD) Raised to “Hold” at StockNews.com

StockNews.com upgraded shares of Clearside Biomedical (NASDAQ:CLSD) from a sell rating to a hold rating in a report published on Saturday morning.

Several other research firms have also recently issued reports on CLSD. HC Wainwright restated a “buy” rating and set a $6.00 price objective on shares of Clearside Biomedical in a report on Thursday, November 14th. Chardan Capital reissued a “buy” rating and issued a $6.00 target price on shares of Clearside Biomedical in a research note on Friday, November 15th. Finally, Needham & Company LLC restated a “buy” rating and issued a $6.00 price target on shares of Clearside Biomedical in a report on Wednesday, November 13th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $5.33.

Clearside Biomedical Trading Up 1.0 %

Shares of CLSD opened at $1.03 on Friday. The firm has a market capitalization of $78.12 million, a P/E ratio of -2.33 and a beta of 2.33. The firm’s 50-day moving average is $1.19 and its two-hundred day moving average is $1.18. Clearside Biomedical has a twelve month low of $0.92 and a twelve month high of $2.12.

Clearside Biomedical (NASDAQ:CLSD) last posted its earnings results on Tuesday, November 12th. The company reported ($0.10) earnings per share for the quarter, beating the consensus estimate of ($0.14) by $0.04. The business had revenue of $1.04 million for the quarter, compared to analysts’ expectations of $0.25 million. During the same quarter last year, the business posted ($0.15) earnings per share. Analysts predict that Clearside Biomedical will post -0.51 EPS for the current year.

Insider Buying and Selling at Clearside Biomedical

In other Clearside Biomedical news, insider Ngai Hang Victor Chong purchased 36,500 shares of Clearside Biomedical stock in a transaction dated Friday, November 1st. The shares were bought at an average cost 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 $100,000. This represents a 57.48 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 9.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of Clearside Biomedical by 14.5% during the 1st quarter. Vanguard Group Inc. now owns 2,490,796 shares of the company’s stock valued at $3,811,000 after acquiring an additional 314,480 shares during the last quarter. Geode Capital Management LLC increased its position in Clearside Biomedical by 8.8% in the 3rd quarter. Geode Capital Management LLC now owns 731,386 shares of the company’s stock worth $929,000 after purchasing an additional 59,089 shares during the last quarter. Renaissance Technologies LLC lifted its stake in Clearside Biomedical by 6.6% in the second 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 last quarter. Assenagon Asset Management S.A. bought a new stake in Clearside Biomedical in the second quarter worth $368,000. Finally, Johnson & Johnson bought a new position in shares of Clearside Biomedical in the 3rd quarter valued at approximately $105,000. Institutional investors 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.