Clearside Biomedical (NASDAQ:CLSD) Rating Lowered to Hold at Needham & Company LLC

Clearside Biomedical (NASDAQ:CLSD) was downgraded by stock analysts at Needham & Company LLC from a “moderate buy” rating to a “hold” rating in a report released on Thursday, Marketbeat Ratings reports. They currently have a $3.00 price objective on the stock.

Several other research firms also recently weighed in on CLSD. JMP Securities reissued a “market outperform” rating and set a $5.00 price target on shares of Clearside Biomedical in a research report on Friday, May 16th. Chardan Capital reiterated a “buy” rating and set a $6.00 price objective on shares of Clearside Biomedical in a research report on Friday, March 28th. HC Wainwright dropped their price target on Clearside Biomedical from $6.00 to $5.00 and set a “buy” rating on the stock in a report on Friday, May 23rd. Finally, Wall Street Zen raised shares of Clearside Biomedical from a “sell” rating to a “hold” rating in a research note on Saturday, May 17th. Six research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $4.20.

Clearside Biomedical Trading Up 3.7%

CLSD opened at $0.35 on Thursday. Clearside Biomedical has a 12-month low of $0.29 and a 12-month high of $1.65. The business’s fifty day simple moving average is $0.80 and its 200-day simple moving average is $0.88. The company has a market capitalization of $27.31 million, a price-to-earnings ratio of -0.86 and a beta of 2.05.

Clearside Biomedical (NASDAQ:CLSD) last announced 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 company had revenue of $2.33 million for the quarter, compared to analysts’ expectations of $0.20 million. On average, equities research analysts predict that Clearside Biomedical will post -0.48 EPS for the current year.

Institutional Investors Weigh In On Clearside Biomedical

Several institutional investors and hedge funds have recently added to or reduced their stakes in CLSD. Geode Capital Management LLC lifted its holdings 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 acquiring an additional 32,672 shares during the period. Northern Trust Corp lifted its stake in shares of Clearside Biomedical by 24.0% in 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. Finally, Investor s Fiduciary Advisor Network LLC purchased a new position in Clearside Biomedical during the fourth quarter worth about $32,000. 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.