Clearside Biomedical, Inc. (NASDAQ:CLSD) Receives Average Recommendation of “Hold” from Analysts

Shares of Clearside Biomedical, Inc. (NASDAQ:CLSD) have been given an average recommendation of “Hold” by the six brokerages that are currently covering the firm, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $63.00.

Several research firms recently weighed in on CLSD. Stifel Nicolaus cut Clearside Biomedical from a “buy” rating to a “hold” rating and set a $30.00 target price for the company. in a research note on Friday, July 18th. Chardan Capital cut Clearside Biomedical from a “buy” rating to a “neutral” rating in a research note on Friday, July 18th. Wall Street Zen upgraded Clearside Biomedical from a “sell” rating to a “hold” rating in a research note on Saturday, October 25th. HC Wainwright cut Clearside Biomedical from a “buy” rating to a “neutral” rating and set a $75.00 target price for the company. in a research note on Friday, July 18th. Finally, Jones Trading cut Clearside Biomedical from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 17th.

Institutional Investors Weigh In On Clearside Biomedical

A hedge fund recently bought a new stake in Clearside Biomedical stock. Apollon Wealth Management LLC acquired a new stake in Clearside Biomedical, Inc. (NASDAQ:CLSD) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 23,586 shares of the company’s stock, valued at approximately $94,000. Apollon Wealth Management LLC owned about 0.45% of Clearside Biomedical at the end of the most recent quarter. 18.75% of the stock is owned by institutional investors.

Clearside Biomedical Stock Performance

Shares of CLSD opened at $4.07 on Friday. The stock has a 50-day simple moving average of $4.40 and a 200-day simple moving average of $8.50. The stock has a market capitalization of $21.31 million, a PE ratio of -0.73 and a beta of 2.05. Clearside Biomedical has a 1 year low of $3.32 and a 1 year high of $17.40.

Clearside Biomedical (NASDAQ:CLSD) last posted its earnings results on Friday, August 8th. The company reported ($0.90) earnings per share for the quarter, topping the consensus estimate of ($1.80) by $0.90. The business had revenue of $0.49 million for the quarter, compared to analysts’ expectations of $0.50 million. Analysts predict that Clearside Biomedical will post -0.48 EPS for the current year.

About Clearside Biomedical

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.