Clearside Biomedical (NASDAQ:CLSD) Price Target Lowered to $4.00 at Needham & Company LLC

Clearside Biomedical (NASDAQ:CLSD) had its price target reduced by Needham & Company LLC from $6.00 to $4.00 in a report published on Friday,Benzinga reports. They currently have a buy rating on the stock.

CLSD has been the subject of several other research reports. StockNews.com cut Clearside Biomedical from a “hold” rating to a “sell” rating in a research report on Tuesday, March 18th. HC Wainwright reiterated a “buy” rating and issued a $6.00 price target on shares of Clearside Biomedical in a report on Thursday, March 6th. One investment analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $5.25.

Clearside Biomedical Trading Down 7.8 %

CLSD stock opened at $0.95 on Friday. The company has a market capitalization of $72.05 million, a P/E ratio of -2.11 and a beta of 2.10. The business has a 50 day simple moving average of $0.96 and a 200-day simple moving average of $1.05. Clearside Biomedical has a twelve month low of $0.77 and a twelve month high of $1.65.

Clearside Biomedical (NASDAQ:CLSD) last issued its quarterly earnings data on Thursday, March 27th. The company reported ($0.10) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.13) by $0.03. The business had revenue of $0.31 million for the quarter, compared to analysts’ expectations of $0.27 million. Research analysts predict that Clearside Biomedical will post -0.48 EPS for the current fiscal year.

Hedge Funds Weigh In On Clearside Biomedical

Hedge funds and other institutional investors have recently modified their holdings of the company. Geode Capital Management LLC increased its position in Clearside Biomedical by 8.8% during the 3rd quarter. Geode Capital Management LLC now owns 731,386 shares of the company’s stock worth $929,000 after purchasing an additional 59,089 shares in the last quarter. Investor s Fiduciary Advisor Network LLC acquired a new stake in shares of Clearside Biomedical in the fourth quarter worth $32,000. Finally, Northern Trust Corp raised its stake in shares of Clearside Biomedical by 24.0% in the 4th quarter. Northern Trust Corp now owns 165,499 shares of the company’s stock valued at $157,000 after acquiring an additional 32,048 shares during the period. 18.75% of the stock is owned by institutional investors and hedge funds.

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.