Clearside Biomedical, Inc. (NASDAQ:CLSD) Receives $63.00 Average PT from Brokerages

Shares of Clearside Biomedical, Inc. (NASDAQ:CLSD) have been assigned an average recommendation of “Hold” from the seven research firms that are covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating on the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $63.00.

Several equities analysts have recently commented on the stock. Weiss Ratings started coverage on shares of Clearside Biomedical in a research report on Saturday, November 1st. They issued a “sell (e+)” rating for the company. Needham & Company LLC reissued a “hold” rating on shares of Clearside Biomedical in a research note on Tuesday, November 18th. Finally, Wall Street Zen upgraded shares of Clearside Biomedical from a “sell” rating to a “hold” rating in a research report on Saturday, October 25th.

Clearside Biomedical Stock Down 36.4%

Shares of Clearside Biomedical stock opened at $0.36 on Monday. The stock has a market capitalization of $1.87 million, a price-to-earnings ratio of -0.06 and a beta of 2.04. Clearside Biomedical has a twelve month low of $0.37 and a twelve month high of $17.10. The company has a 50-day simple moving average of $2.55 and a two-hundred day simple moving average of $5.99.

Clearside Biomedical (NASDAQ:CLSD) last issued its quarterly earnings results on Friday, November 14th. The company reported ($1.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.67) by ($0.47). The company had revenue of $0.20 million during the quarter, compared to analyst estimates of $0.09 million. On average, sell-side analysts anticipate that Clearside Biomedical will post -0.48 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Clearside Biomedical stock. Apollon Wealth Management LLC acquired a new stake in shares of Clearside Biomedical, Inc. (NASDAQ:CLSD) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 23,586 shares of the company’s stock, valued at approximately $94,000. Apollon Wealth Management LLC owned approximately 0.45% of Clearside Biomedical as of its most recent SEC filing. 18.75% of the stock is currently owned by institutional investors and hedge funds.

Clearside Biomedical Company Profile

Clearside Biomedical, Inc, a biopharmaceutical company, focuses on the revolutionizing the delivery of therapies to the back of the eye through the suprachoroidal space. It offers XIPERE, a triamcinolone acetonide suprachoroidal injectable suspension for the treatment of uveitis macular edema. It also develops CLS-AX, an axitinib injectable suspension for suprachoroidal injection, which is in Phase IIb clinical trial to treat wet AMD.