Clearside Biomedical (NASDAQ:CLSD) Upgraded to Hold at StockNews.com

StockNews.com upgraded shares of Clearside Biomedical (NASDAQ:CLSD) from a sell rating to a hold rating in a research note issued to investors on Saturday morning.

A number of other equities analysts also recently issued reports on the stock. Chardan Capital reissued a “buy” rating and issued a $6.00 price objective on shares of Clearside Biomedical in a report on Friday, March 28th. HC Wainwright reaffirmed a “buy” rating and set a $6.00 price target on shares of Clearside Biomedical in a report on Monday, March 31st. Needham & Company LLC lowered their target price on shares of Clearside Biomedical from $4.00 to $3.00 and set a “buy” rating on the stock in a report on Thursday, May 15th. Finally, JMP Securities restated a “market outperform” rating and issued a $5.00 price target on shares of Clearside Biomedical in a research report on Friday. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $5.00.

Clearside Biomedical Stock Performance

NASDAQ:CLSD opened at $0.89 on Friday. The firm has a market cap of $68.65 million, a P/E ratio of -1.97 and a beta of 2.11. Clearside Biomedical has a fifty-two week low of $0.70 and a fifty-two week high of $1.65. The firm has a 50-day simple moving average of $0.88 and a two-hundred day simple moving average of $0.95.

Clearside Biomedical (NASDAQ:CLSD) last announced its quarterly earnings results on Wednesday, May 14th. The company reported ($0.11) EPS for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.01. The company had revenue of $2.33 million during the quarter, compared to the consensus estimate of $0.20 million. On average, equities research analysts predict that Clearside Biomedical will post -0.48 EPS for the current year.

Institutional Trading of Clearside Biomedical

Several hedge funds have recently modified their holdings of CLSD. Investor s Fiduciary Advisor Network LLC purchased a new stake in shares of Clearside Biomedical during the fourth quarter valued at about $32,000. Northern Trust Corp grew its stake in shares of Clearside Biomedical by 24.0% during the 4th quarter. Northern Trust Corp now owns 165,499 shares of the company’s stock worth $157,000 after purchasing an additional 32,048 shares during the period. Finally, Geode Capital Management LLC grew its stake in shares of Clearside Biomedical by 4.5% during the 4th quarter. Geode Capital Management LLC now owns 764,058 shares of the company’s stock worth $726,000 after purchasing an additional 32,672 shares during the period. 18.75% of the stock is owned by hedge funds and other institutional investors.

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.