Brokerages Set Clearside Biomedical, Inc. (NASDAQ:CLSD) Target Price at $4.20

Shares of Clearside Biomedical, Inc. (NASDAQ:CLSD) have been given a consensus rating of “Hold” by the six brokerages that are presently covering the company, Marketbeat Ratings reports. Five analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $4.20.

A number of research analysts recently issued reports on CLSD shares. Wall Street Zen upgraded Clearside Biomedical from a “sell” rating to a “hold” rating in a research note on Saturday, May 17th. Stifel Nicolaus downgraded Clearside Biomedical from a “buy” rating to a “hold” rating and set a $2.00 target price for the company. in a research report on Friday, July 18th. Jones Trading lowered Clearside Biomedical from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 17th. JMP Securities restated a “market outperform” rating and set a $5.00 price target on shares of Clearside Biomedical in a report on Friday, May 16th. Finally, Chardan Capital lowered Clearside Biomedical from a “buy” rating to a “neutral” rating in a research note on Friday, July 18th.

Institutional Investors Weigh In On Clearside Biomedical

A number of institutional investors have recently added to or reduced their stakes in CLSD. Geode Capital Management LLC boosted its holdings in Clearside Biomedical by 4.5% in the fourth 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 in the last quarter. Northern Trust Corp increased its position 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 stake in shares of Clearside Biomedical in the fourth quarter valued at approximately $32,000. Institutional investors own 18.75% of the company’s stock.

Clearside Biomedical Trading Up 0.9%

Shares of CLSD stock opened at $0.45 on Tuesday. The stock has a market cap of $35.24 million, a PE ratio of -1.21 and a beta of 2.08. The company’s fifty day moving average price is $0.66 and its 200-day moving average price is $0.81. Clearside Biomedical has a 12 month low of $0.29 and a 12 month high of $1.65.

Clearside Biomedical (NASDAQ:CLSD) last issued its earnings results on Friday, August 8th. The company reported ($0.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.06. The business had revenue of $0.49 million during the quarter, compared to analysts’ expectations of $0.50 million. On average, sell-side analysts forecast that Clearside Biomedical will post -0.48 earnings per share for the current fiscal year.

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.