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

Chardan Capital reiterated their buy rating on shares of Clearside Biomedical (NASDAQ:CLSD) in a research note published on Friday,Benzinga reports. The brokerage currently has a $6.00 price target on the stock.

Several other equities research analysts have also commented on CLSD. Needham & Company LLC reduced their price target on shares of Clearside Biomedical from $6.00 to $4.00 and set a “buy” rating for the company in a research report on Friday. HC Wainwright reaffirmed a “buy” rating and issued a $6.00 price objective on shares of Clearside Biomedical in a research note on Thursday, March 6th. Finally, StockNews.com cut shares of Clearside Biomedical from a “hold” rating to a “sell” rating in a research note on Tuesday, March 18th. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $5.25.

Clearside Biomedical Stock Performance

Shares of NASDAQ CLSD opened at $0.95 on Friday. The firm’s 50 day moving average price is $0.96 and its 200-day moving average price is $1.05. Clearside Biomedical has a 52-week low of $0.77 and a 52-week high of $1.65. The company has a market cap of $72.05 million, a PE ratio of -2.11 and a beta of 2.10.

Clearside Biomedical (NASDAQ:CLSD) last released its quarterly earnings data on Thursday, March 27th. The company reported ($0.10) EPS for the quarter, topping the consensus estimate of ($0.13) by $0.03. The business had revenue of $0.31 million during the quarter, compared to the consensus estimate of $0.27 million. On average, analysts forecast that Clearside Biomedical will post -0.48 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Clearside Biomedical

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC grew its holdings in Clearside Biomedical by 8.8% during the 3rd quarter. Geode Capital Management LLC now owns 731,386 shares of the company’s stock valued at $929,000 after purchasing an additional 59,089 shares during the last quarter. Northern Trust Corp increased its stake in shares of Clearside Biomedical by 24.0% during 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 during the period. Finally, Investor s Fiduciary Advisor Network LLC purchased a new position in Clearside Biomedical during the 4th quarter valued at about $32,000. 18.75% of the stock is currently owned by hedge funds and other 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.