Clearside Biomedical (NASDAQ:CLSD) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Tuesday.

According to Zacks, “Clearside Biomedical, Inc. is a biopharmaceutical company is engaged in developing first-in-class drug therapies to treat blinding diseases of the eye using Clearside proprietary suprachoroidal space(TM) microinjector. Its products include CLS-1001 for the treatment of macular edema associated with non-infectious uveitis; CLS-1003 for the treatment of macular edema associated with retinal vein occlusion; and CLS-1002 program for the treatment of wet age-related macular degeneration. Clearside Biomedical, Inc. is headquartered in Alpharetta, Georgia. “

Other analysts have also recently issued reports about the stock. BidaskClub cut shares of Clearside Biomedical from a “buy” rating to a “hold” rating in a report on Friday, July 20th. Laidlaw began coverage on shares of Clearside Biomedical in a report on Monday, July 16th. They issued a “buy” rating and a $18.00 price target on the stock. ValuEngine cut shares of Clearside Biomedical from a “buy” rating to a “hold” rating in a report on Friday, June 22nd. Janney Montgomery Scott began coverage on shares of Clearside Biomedical in a report on Thursday, June 28th. They issued a “buy” rating on the stock. Finally, Wedbush set a $29.00 price target on shares of Clearside Biomedical and gave the company a “buy” rating in a report on Wednesday, August 8th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the stock. Clearside Biomedical presently has an average rating of “Buy” and a consensus target price of $22.40.

NASDAQ:CLSD opened at $5.50 on Tuesday. Clearside Biomedical has a fifty-two week low of $5.30 and a fifty-two week high of $15.33. The stock has a market capitalization of $196.95 million, a PE ratio of -2.36 and a beta of -7.37. The company has a current ratio of 7.94, a quick ratio of 7.94 and a debt-to-equity ratio of 0.15.

Clearside Biomedical (NASDAQ:CLSD) last released its quarterly earnings results on Wednesday, August 8th. The company reported ($0.65) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.58) by ($0.07). As a group, equities research analysts forecast that Clearside Biomedical will post -2.53 EPS for the current year.

Large investors have recently added to or reduced their stakes in the company. MetLife Investment Advisors LLC purchased a new position in shares of Clearside Biomedical in the 1st quarter valued at approximately $117,000. Voya Investment Management LLC purchased a new position in shares of Clearside Biomedical in the 2nd quarter valued at approximately $123,000. Highland Capital Management LLC purchased a new position in shares of Clearside Biomedical in the 2nd quarter valued at approximately $128,000. Cubist Systematic Strategies LLC purchased a new position in shares of Clearside Biomedical in the 1st quarter valued at approximately $132,000. Finally, Dynamic Technology Lab Private Ltd purchased a new position in shares of Clearside Biomedical in the 1st quarter valued at approximately $152,000. Institutional investors and hedge funds own 62.42% of the company’s stock.

About Clearside Biomedical

Clearside Biomedical, Inc, a late-stage clinical biopharmaceutical company, develops pharmacological therapies to treat blinding diseases of the eye. It is developing suprachoroidal injection of CLS-TA, a proprietary preservative-free formulation of the corticosteroid triamcinolone acetonide, which is in Phase III clinical trial for the treatment of macular edema associated with non-infectious uveitis; suprachoroidal injection of CLS-TA and a concomitant intravitreal injection of Eylea, an inhibitor of vascular endothelial growth factor that is in Phase III clinical trial to treat macular edema associated with retinal vein occlusion; and suprachoroidal injection of CLS-TA alone or together with intravitreal injection of Eylea that is in phase II clinical trial for diabetic macular edema.

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