Clearside Biomedical (NASDAQ:CLSD) Receives “Buy” Rating from Chardan Capital

Clearside Biomedical (NASDAQ:CLSD)‘s stock had its “buy” rating restated by research analysts at Chardan Capital in a report issued on Friday,Benzinga reports. They currently have a $6.00 target price on the stock.

A number of other research analysts have also recently issued reports on CLSD. Needham & Company LLC lowered their price target on shares of Clearside Biomedical from $6.00 to $4.00 and set a “buy” rating for the company in a research report on Friday. HC Wainwright reiterated a “buy” rating and set a $6.00 target price on shares of Clearside Biomedical in a report on Thursday, March 6th. Finally, StockNews.com downgraded Clearside Biomedical from a “hold” rating to a “sell” rating in a research note on Tuesday, March 18th. One investment analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $5.25.

Clearside Biomedical Stock Performance

CLSD stock opened at $0.95 on Friday. Clearside Biomedical has a fifty-two week low of $0.77 and a fifty-two week high of $1.65. The company has a market capitalization of $72.05 million, a price-to-earnings ratio of -2.11 and a beta of 2.10. The business’s 50 day moving average price is $0.96 and its two-hundred day moving average price is $1.05.

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

Hedge Funds Weigh In On Clearside Biomedical

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Investor s Fiduciary Advisor Network LLC purchased a new position in shares of Clearside Biomedical in the fourth quarter worth $32,000. Northern Trust Corp increased its holdings in Clearside Biomedical by 24.0% in the 4th quarter. Northern Trust Corp now owns 165,499 shares of the company’s stock worth $157,000 after buying an additional 32,048 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in Clearside Biomedical by 4.5% in the 4th quarter. Geode Capital Management LLC now owns 764,058 shares of the company’s stock worth $726,000 after buying an additional 32,672 shares in the last quarter. 18.75% of the stock is owned by 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.