Clearside Biomedical, Inc. (CLSD) Receives $21.60 Average PT from Analysts
Shares of Clearside Biomedical, Inc. (NASDAQ:CLSD) have been given a consensus rating of “Buy” by the nine analysts that are presently covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation and six have given a buy recommendation to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $21.60.
CLSD has been the subject of a number of research analyst reports. Zacks Investment Research raised Clearside Biomedical from a “sell” rating to a “hold” rating in a research report on Monday, May 15th. JMP Securities initiated coverage on Clearside Biomedical in a research report on Thursday, May 25th. They issued an “outperform” rating and a $21.00 target price for the company. TheStreet lowered Clearside Biomedical from a “c-” rating to a “d” rating in a research report on Friday, August 11th. Cowen and Company reaffirmed a “buy” rating on shares of Clearside Biomedical in a research report on Monday, August 7th. Finally, ValuEngine raised Clearside Biomedical from a “sell” rating to a “hold” rating in a research report on Saturday, June 24th.
In other Clearside Biomedical news, insider Daniel H. White sold 8,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 14th. The stock was sold at an average price of $7.89, for a total transaction of $63,120.00. Following the completion of the sale, the insider now directly owns 504,067 shares of the company’s stock, valued at approximately $3,977,088.63. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Daniel H. White sold 3,600 shares of the business’s stock in a transaction that occurred on Wednesday, July 19th. The stock was sold at an average price of $9.79, for a total value of $35,244.00. Following the sale, the chief executive officer now directly owns 499,967 shares of the company’s stock, valued at $4,894,676.93. The disclosure for this sale can be found here. Over the last ninety days, insiders purchased 7,100 shares of company stock valued at $50,170 and sold 57,200 shares valued at $465,827. Insiders own 20.90% of the company’s stock.
Hedge funds have recently modified their holdings of the company. Wellington Management Group LLP raised its stake in shares of Clearside Biomedical by 31.6% in the first quarter. Wellington Management Group LLP now owns 2,164,703 shares of the company’s stock worth $17,187,000 after buying an additional 520,403 shares in the last quarter. AWM Investment Company Inc. raised its stake in shares of Clearside Biomedical by 173.0% in the first quarter. AWM Investment Company Inc. now owns 341,217 shares of the company’s stock worth $2,709,000 after buying an additional 216,217 shares in the last quarter. Marshall Wace North America L.P. bought a new stake in shares of Clearside Biomedical during the first quarter worth approximately $1,720,000. MARSHALL WACE ASIA Ltd bought a new stake in shares of Clearside Biomedical during the first quarter worth approximately $1,720,000. Finally, State Street Corp raised its stake in shares of Clearside Biomedical by 99.7% in the second quarter. State Street Corp now owns 259,599 shares of the company’s stock worth $2,367,000 after buying an additional 129,621 shares in the last quarter. 52.45% of the stock is owned by hedge funds and other institutional investors.
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Clearside Biomedical (NASDAQ CLSD) traded up 3.00% on Tuesday, hitting $7.20. The company had a trading volume of 83,601 shares. The company’s market capitalization is $182.42 million. Clearside Biomedical has a one year low of $5.44 and a one year high of $25.08. The stock’s 50-day moving average price is $8.04 and its 200 day moving average price is $7.96.
Clearside Biomedical (NASDAQ:CLSD) last announced its quarterly earnings data on Wednesday, August 9th. The company reported ($0.54) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.41) by $0.13. The business had revenue of $0.13 million during the quarter. Clearside Biomedical had a negative net margin of 27,225.52% and a negative return on equity of 65.78%. On average, analysts expect that Clearside Biomedical will post ($2.10) EPS for the current fiscal year.
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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