Clearside Biomedical, Inc. (NASDAQ:CLSD) Receives Average Recommendation of “Hold” from Analysts

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

A number of research firms recently commented on CLSD. Wall Street Zen raised shares of Clearside Biomedical from a “sell” rating to a “hold” rating in a research report on Saturday, May 17th. Stifel Nicolaus downgraded shares of Clearside Biomedical from a “buy” rating to a “hold” rating and set a $2.00 price objective on the stock. in a research note on Friday, July 18th. Chardan Capital downgraded shares of Clearside Biomedical from a “buy” rating to a “neutral” rating in a research note on Friday, July 18th. Needham & Company LLC downgraded shares of Clearside Biomedical from a “moderate buy” rating to a “hold” rating and set a $3.00 price objective on the stock. in a research note on Thursday, July 17th. Finally, HC Wainwright downgraded shares of Clearside Biomedical from a “buy” rating to a “neutral” rating and set a $5.00 price objective on the stock. in a research note on Friday, July 18th.

Institutional Investors Weigh In On Clearside Biomedical

An institutional investor recently raised its position in Clearside Biomedical stock. Northern Trust Corp boosted its position in shares of Clearside Biomedical, Inc. (NASDAQ:CLSD) by 24.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 165,499 shares of the company’s stock after buying an additional 32,048 shares during the period. Northern Trust Corp owned approximately 0.22% of Clearside Biomedical worth $157,000 at the end of the most recent quarter. 18.75% of the stock is owned by institutional investors.

Clearside Biomedical Stock Performance

NASDAQ:CLSD opened at $0.35 on Friday. Clearside Biomedical has a 52 week low of $0.29 and a 52 week high of $1.65. The firm has a market cap of $27.16 million, a price-to-earnings ratio of -0.94 and a beta of 2.11. The firm’s 50-day simple moving average is $0.52 and its 200 day simple moving average is $0.74.

Clearside Biomedical (NASDAQ:CLSD) last released its quarterly earnings results on Friday, August 8th. The company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.06. The business had revenue of $0.49 million for the quarter, compared to the consensus estimate of $0.50 million. Sell-side analysts anticipate that Clearside Biomedical will post -0.48 EPS for the current year.

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.