Clearside Biomedical, Inc. (NASDAQ:CLSD) Receives $6.00 Consensus Target Price from Brokerages

Clearside Biomedical, Inc. (NASDAQ:CLSD – Get Rating) has been assigned an average rating of “Moderate Buy” from the six research firms that are presently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $6.00.

A number of research firms have commented on CLSD. StockNews.com began coverage on Clearside Biomedical in a research note on Thursday. They issued a “hold” rating for the company. JMP Securities decreased their price target on Clearside Biomedical from $7.00 to $6.00 and set a “market outperform” rating for the company in a research note on Friday, March 10th. HC Wainwright reissued a “buy” rating and issued a $6.00 price objective on shares of Clearside Biomedical in a report on Friday, March 10th. Finally, Needham & Company LLC cut their price objective on Clearside Biomedical from $5.00 to $4.00 and set a “buy” rating on the stock in a report on Friday, March 10th.

Clearside Biomedical Price Performance

Shares of NASDAQ CLSD opened at $1.04 on Tuesday. The stock has a market capitalization of $63.81 million, a P/E ratio of -1.89 and a beta of 1.95. Clearside Biomedical has a 1-year low of $0.93 and a 1-year high of $2.85. The business has a fifty day moving average price of $1.35 and a 200 day moving average price of $1.27.

Insider Buying and Selling

In other news, CEO George M. Lasezkay sold 20,030 shares of the business’s stock in a transaction that occurred on Thursday, January 19th. The stock was sold at an average price of $1.46, for a total value of $29,243.80. Following the completion of the sale, the chief executive officer now directly owns 484,577 shares in the company, valued at $707,482.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold a total of 49,930 shares of company stock valued at $73,943 over the last ninety days. Company insiders own 12.00% of the company’s stock.

Institutional Trading of Clearside Biomedical

Institutional investors and hedge funds have recently made changes to their positions in the business. Water Island Capital LLC acquired a new stake in shares of Clearside Biomedical in the fourth quarter worth approximately $53,000. Northeast Financial Consultants Inc boosted its stake in Clearside Biomedical by 56.6% during the fourth quarter. Northeast Financial Consultants Inc now owns 83,000 shares of the company’s stock worth $93,000 after buying an additional 30,000 shares during the last quarter. Ameritas Advisory Services LLC boosted its stake in Clearside Biomedical by 100.0% during the fourth quarter. Ameritas Advisory Services LLC now owns 41,620 shares of the company’s stock worth $47,000 after buying an additional 20,810 shares during the last quarter. Banque Cantonale Vaudoise acquired a new position in Clearside Biomedical during the fourth quarter worth $45,000. Finally, Hamilton Lane Advisors LLC acquired a new position in Clearside Biomedical during the fourth quarter worth $73,000. 20.07% of the stock is currently owned by hedge funds and other institutional investors.

About Clearside Biomedical

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Clearside Biomedical, Inc is a biopharmaceutical company, which delivers therapies to the back of the eye through the suprachoroidal space. Its pipeline include CLS-AX, Integrin Inhibitor, and gene therapy. The company was founded by Samir Kumar Patel, Vladimir Zarnitsyn, Mark Prausnitz, Daniel H. White, and Henry F.