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

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

Several other brokerages have also commented on CLSD. Needham & Company LLC dropped their price target on Clearside Biomedical from $4.00 to $3.00 and set a “buy” rating for the company in a research note on Thursday. Chardan Capital reiterated a “buy” rating and set a $6.00 target price on shares of Clearside Biomedical in a report on Friday, March 28th. JMP Securities restated a “market outperform” rating and issued a $5.00 price target on shares of Clearside Biomedical in a report on Friday. Finally, HC Wainwright reiterated a “buy” rating and set a $6.00 price objective on shares of Clearside Biomedical in a research note on Monday, March 31st. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Clearside Biomedical presently has a consensus rating of “Moderate Buy” and a consensus price target of $5.00.

Clearside Biomedical Stock Up 1.7%

Shares of NASDAQ:CLSD opened at $0.88 on Friday. The company has a market capitalization of $67.92 million, a P/E ratio of -1.95 and a beta of 2.11. Clearside Biomedical has a 52-week low of $0.70 and a 52-week high of $1.65. The stock’s fifty day simple moving average is $0.88 and its 200-day simple moving average is $0.95.

Clearside Biomedical (NASDAQ:CLSD) last issued its quarterly earnings results on Wednesday, May 14th. The company reported ($0.11) earnings per share for the quarter, beating the consensus estimate of ($0.12) by $0.01. The business had revenue of $2.33 million during the quarter, compared to analyst estimates of $0.20 million. On average, sell-side analysts anticipate that Clearside Biomedical will post -0.48 earnings per share for the current year.

Hedge Funds Weigh In On Clearside Biomedical

Institutional investors have recently made changes to their positions in the business. Geode Capital Management LLC grew its position in shares of Clearside Biomedical by 4.5% during the fourth 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. Northern Trust Corp increased its position 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 worth $157,000 after purchasing an additional 32,048 shares during the last quarter. Finally, Investor s Fiduciary Advisor Network LLC acquired a new stake in shares of Clearside Biomedical in the 4th quarter valued at about $32,000. 18.75% of the stock is owned by institutional investors and hedge funds.

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.