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

Clearside Biomedical (NASDAQ:CLSD)‘s stock had its “buy” rating reaffirmed by Chardan Capital in a note issued to investors on Friday,Benzinga reports. They presently have a $6.00 price objective on the stock.

CLSD has been the topic of several other reports. Needham & Company LLC reissued a “buy” rating and issued a $6.00 price objective on shares of Clearside Biomedical in a research note on Wednesday. HC Wainwright reissued a “buy” rating and set a $6.00 price target on shares of Clearside Biomedical in a report on Thursday. Finally, StockNews.com downgraded shares of Clearside Biomedical from a “hold” rating to a “sell” rating in a research report on Friday, November 8th. One analyst has rated the stock with a sell rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $5.33.

Clearside Biomedical Trading Down 5.7 %

Shares of NASDAQ CLSD traded down $0.06 during midday trading on Friday, reaching $0.99. 435,581 shares of the company were exchanged, compared to its average volume of 400,971. The stock has a market cap of $75.08 million, a P/E ratio of -2.20 and a beta of 2.33. Clearside Biomedical has a 1 year low of $0.90 and a 1 year high of $2.12. The stock has a fifty day simple moving average of $1.19 and a 200 day simple moving average of $1.19.

Clearside Biomedical (NASDAQ:CLSD) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.10) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.04. The company had revenue of $1.04 million for the quarter, compared to analyst estimates of $0.25 million. During the same period in the previous year, the business posted ($0.15) earnings per share. As a group, analysts forecast that Clearside Biomedical will post -0.56 earnings per share for the current year.

Insider Buying and Selling

In other Clearside Biomedical news, insider Ngai Hang Victor Chong bought 36,500 shares of the business’s stock in a transaction on Friday, November 1st. The stock was bought at an average price of $1.00 per share, for a total transaction of $36,500.00. Following the completion of the transaction, the insider now owns 100,000 shares in the company, valued at approximately $100,000. The trade was a 57.48 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 9.20% of the company’s stock.

Institutional Trading of Clearside Biomedical

Several large investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in shares of Clearside Biomedical by 14.5% during the 1st quarter. Vanguard Group Inc. now owns 2,490,796 shares of the company’s stock worth $3,811,000 after purchasing an additional 314,480 shares during the last quarter. Renaissance Technologies LLC boosted its position in Clearside Biomedical by 6.6% during the second quarter. Renaissance Technologies LLC now owns 582,689 shares of the company’s stock worth $757,000 after acquiring an additional 35,900 shares during the last quarter. Assenagon Asset Management S.A. purchased a new stake in Clearside Biomedical in the 2nd quarter worth approximately $368,000. Johnson & Johnson acquired a new position in Clearside Biomedical in the 3rd quarter valued at $105,000. Finally, XTX Topco Ltd lifted its stake in shares of Clearside Biomedical by 172.2% during the 2nd quarter. XTX Topco Ltd now owns 54,313 shares of the company’s stock worth $71,000 after purchasing an additional 34,359 shares during the period. 18.75% of the stock is currently 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.