Clearside Biomedical (NASDAQ:CLSD) Stock Rating Lowered by StockNews.com

Clearside Biomedical (NASDAQ:CLSD) was downgraded by research analysts at StockNews.com from a “hold” rating to a “sell” rating in a research note issued to investors on Tuesday.

Several other equities analysts also recently weighed in on the stock. HC Wainwright restated a “buy” rating and set a $6.00 target price on shares of Clearside Biomedical in a report on Thursday, March 6th. Needham & Company LLC restated a “buy” rating and set a $6.00 target price on shares of Clearside Biomedical in a report on Thursday, March 6th. One equities research analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Clearside Biomedical has a consensus rating of “Moderate Buy” and a consensus price target of $5.75.

Clearside Biomedical Stock Up 4.1 %

Shares of NASDAQ CLSD opened at $1.01 on Tuesday. Clearside Biomedical has a 52 week low of $0.77 and a 52 week high of $1.80. The firm has a 50-day moving average price of $0.95 and a 200 day moving average price of $1.05. The stock has a market capitalization of $76.60 million, a price-to-earnings ratio of -2.24 and a beta of 2.10.

Institutional Investors Weigh In On Clearside Biomedical

A number of hedge funds and other institutional investors have recently modified their holdings of CLSD. Geode Capital Management LLC grew its holdings in Clearside Biomedical by 4.5% in the fourth quarter. Geode Capital Management LLC now owns 764,058 shares of the company’s stock valued at $726,000 after purchasing an additional 32,672 shares during the period. Northern Trust Corp lifted its position in Clearside Biomedical by 24.0% during the fourth quarter. Northern Trust Corp now owns 165,499 shares of the company’s stock valued at $157,000 after buying an additional 32,048 shares in the last quarter. Johnson & Johnson acquired a new position in Clearside Biomedical during the third quarter valued at approximately $105,000. Finally, Investor s Fiduciary Advisor Network LLC acquired a new position in Clearside Biomedical during the fourth quarter valued at approximately $32,000. 18.75% of the stock is currently owned by hedge funds and other institutional investors.

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.