Clearside Biomedical, Inc. (NASDAQ:CLSD) was downgraded by equities researchers at ValuEngine from a “hold” rating to a “sell” rating in a research note issued to investors on Thursday.

Other equities research analysts have also recently issued reports about the company. Cowen and Company reaffirmed a “buy” rating and set a $15.00 price objective on shares of Clearside Biomedical in a research note on Thursday, May 11th. Zacks Investment Research raised Clearside Biomedical from a “hold” rating to a “buy” rating and set a $10.00 price objective for the company in a research note on Tuesday, July 11th. JMP Securities initiated coverage on Clearside Biomedical in a research note on Thursday, May 25th. They set an “outperform” rating and a $21.00 price objective for the company. Finally, Wedbush reaffirmed an “outperform” rating and set a $27.00 price objective on shares of Clearside Biomedical in a research note on Thursday, April 20th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $19.00.

Shares of Clearside Biomedical (CLSD) opened at 7.13 on Thursday. The company has a 50-day moving average price of $9.12 and a 200 day moving average price of $8.04. Clearside Biomedical has a 52 week low of $5.44 and a 52 week high of $25.08. The stock’s market capitalization is $180.39 million.

Clearside Biomedical (NASDAQ:CLSD) last announced its quarterly earnings data on Wednesday, May 10th. The company reported ($0.41) EPS for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.03. Clearside Biomedical had a negative return on equity of 53.20% and a negative net margin of 154,030.02%. The business had revenue of $0.01 million during the quarter. Analysts forecast that Clearside Biomedical will post ($1.72) earnings per share for the current fiscal year.

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In other Clearside Biomedical news, Director Clay Thorp sold 24,500 shares of the business’s stock in a transaction dated Wednesday, August 9th. The stock was sold at an average price of $7.57, for a total value of $185,465.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Daniel H. White sold 3,600 shares of the business’s stock in a transaction dated Wednesday, July 19th. The shares were sold at an average price of $9.79, for a total value of $35,244.00. Following the completion of the transaction, 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 three months, insiders sold 159,170 shares of company stock valued at $1,342,339. Insiders own 20.90% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp boosted its position in Clearside Biomedical by 10.8% in the first quarter. Bank of New York Mellon Corp now owns 34,823 shares of the company’s stock worth $277,000 after buying an additional 3,404 shares during the last quarter. Marshall Wace North America L.P. boosted its position in Clearside Biomedical by 1.9% in the second quarter. Marshall Wace North America L.P. now owns 218,960 shares of the company’s stock worth $1,971,000 after buying an additional 4,010 shares during the last quarter. TIAA CREF Investment Management LLC boosted its position in Clearside Biomedical by 30.7% in the first quarter. TIAA CREF Investment Management LLC now owns 19,257 shares of the company’s stock worth $153,000 after buying an additional 4,527 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in Clearside Biomedical by 33.4% in the first quarter. Goldman Sachs Group Inc. now owns 43,852 shares of the company’s stock worth $348,000 after buying an additional 10,972 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its position in Clearside Biomedical by 325.0% in the first quarter. Wells Fargo & Company MN now owns 16,739 shares of the company’s stock worth $133,000 after buying an additional 12,800 shares during the last quarter. 49.67% of the stock is owned by hedge funds and other institutional investors.

Clearside Biomedical Company Profile

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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