Clearside Biomedical (NASDAQ:CLSD) was downgraded by ValuEngine from a “sell” rating to a “strong sell” rating in a research report issued on Monday.

Several other brokerages also recently weighed in on CLSD. Zacks Investment Research downgraded Clearside Biomedical from a “hold” rating to a “sell” rating in a research note on Tuesday, January 23rd. Cowen restated a “buy” rating on shares of Clearside Biomedical in a research note on Wednesday, October 25th. Two investment analysts have rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $18.33.

Clearside Biomedical (NASDAQ:CLSD) opened at $5.57 on Monday. Clearside Biomedical has a 12 month low of $5.44 and a 12 month high of $10.36. The firm has a market capitalization of $141.16 and a P/E ratio of -2.90. The company has a quick ratio of 4.57, a current ratio of 4.57 and a debt-to-equity ratio of 0.15.

Clearside Biomedical (NASDAQ:CLSD) last announced its earnings results on Wednesday, November 8th. The company reported ($0.72) earnings per share for the quarter, missing the consensus estimate of ($0.55) by ($0.17). Clearside Biomedical had a negative net margin of 17,684.07% and a negative return on equity of 90.72%. The company had revenue of $0.16 million during the quarter, compared to analysts’ expectations of $0.01 million. equities research analysts predict that Clearside Biomedical will post -2.37 earnings per share for the current fiscal year.

In related news, Director Clay Thorp sold 15,000 shares of Clearside Biomedical stock in a transaction that occurred on Tuesday, November 14th. The stock was sold at an average price of $7.02, for a total value of $105,300.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Over the last 90 days, insiders sold 70,000 shares of company stock worth $476,500. Company insiders own 20.90% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the business. Nationwide Fund Advisors boosted its position in Clearside Biomedical by 118.3% during the second quarter. Nationwide Fund Advisors now owns 11,703 shares of the company’s stock worth $107,000 after purchasing an additional 6,343 shares in the last quarter. Citadel Advisors LLC purchased a new stake in Clearside Biomedical during the second quarter worth $117,000. Parametric Portfolio Associates LLC purchased a new stake in Clearside Biomedical during the second quarter worth $122,000. ProShare Advisors LLC boosted its position in Clearside Biomedical by 4.0% during the second quarter. ProShare Advisors LLC now owns 14,814 shares of the company’s stock worth $135,000 after purchasing an additional 563 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its position in Clearside Biomedical by 21,620.7% during the second quarter. The Manufacturers Life Insurance Company now owns 17,811 shares of the company’s stock worth $162,000 after purchasing an additional 17,729 shares in the last quarter. Institutional investors own 51.66% of the company’s stock.

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About Clearside Biomedical

Clearside Biomedical, Inc is a clinical biopharmaceutical company developing first-in-class drug therapies to treat blinding diseases of the eye. The Company’s product candidates focus on diseases affecting the retina, which is the tissue that lines the inside of the eye and is primarily responsible for vision, and the choroid, which is the layer adjacent to the retina that supplies the retina with blood, oxygen and nourishment.

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Analyst Recommendations for Clearside Biomedical (NASDAQ:CLSD)

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