Clearside Biomedical, Inc. (NASDAQ:CLSD) Receives $63.00 Consensus PT from Analysts

Clearside Biomedical, Inc. (NASDAQ:CLSD) has been given an average recommendation of “Hold” by the six ratings firms that are presently covering the stock, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $63.00.

A number of equities research analysts recently commented on CLSD shares. Chardan Capital downgraded Clearside Biomedical from a “buy” rating to a “neutral” rating in a report on Friday, July 18th. Wall Street Zen upgraded Clearside Biomedical to a “sell” rating in a report on Saturday, September 20th. Jones Trading downgraded Clearside Biomedical from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 17th. Needham & Company LLC downgraded Clearside Biomedical from a “moderate buy” rating to a “hold” rating and set a $45.00 price objective for the company. in a report on Thursday, July 17th. Finally, HC Wainwright downgraded Clearside Biomedical from a “buy” rating to a “neutral” rating and set a $75.00 price objective for the company. in a report on Friday, July 18th.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Clearside Biomedical stock. Northern Trust Corp boosted its stake in shares of Clearside Biomedical, Inc. (NASDAQ:CLSD) by 24.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 165,499 shares of the company’s stock after purchasing an additional 32,048 shares during the period. Northern Trust Corp owned 0.22% of Clearside Biomedical worth $157,000 as of its most recent filing with the SEC. Hedge funds and other institutional investors own 18.75% of the company’s stock.

Clearside Biomedical Price Performance

Shares of CLSD stock opened at $4.37 on Wednesday. The stock’s fifty day simple moving average is $5.33 and its 200 day simple moving average is $9.80. The firm has a market cap of $22.90 million, a price-to-earnings ratio of -0.79 and a beta of 2.05. Clearside Biomedical has a one year low of $3.32 and a one year high of $24.75.

Clearside Biomedical (NASDAQ:CLSD) last posted its quarterly earnings data on Friday, August 8th. The company reported ($0.90) EPS for the quarter, topping analysts’ consensus estimates of ($1.80) by $0.90. The business had revenue of $0.49 million during the quarter, compared to analyst estimates of $0.50 million. On average, research analysts anticipate that Clearside Biomedical will post -0.48 earnings per share for the current year.

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.