Clearside Biomedical Inc (CLSD) Sees Large Volume Increase
Shares of Clearside Biomedical Inc (NASDAQ:CLSD) saw unusually-strong trading volume on Tuesday . Approximately 208,669 shares traded hands during mid-day trading, an increase of 225% from the previous session’s volume of 64,188 shares.The stock last traded at $10.90 and had previously closed at $10.44.
Several analysts have recently weighed in on CLSD shares. Zacks Investment Research upgraded shares of Clearside Biomedical from a “sell” rating to a “hold” rating in a research note on Monday. Wedbush reiterated a “buy” rating and issued a $28.00 price objective on shares of Clearside Biomedical in a research note on Thursday, August 25th. Stifel Nicolaus started coverage on shares of Clearside Biomedical in a research note on Monday, June 27th. They issued a “buy” rating and a $13.00 price objective for the company. Needham & Company LLC started coverage on shares of Clearside Biomedical in a research note on Tuesday, June 28th. They issued a “buy” rating and a $16.00 price objective for the company. Finally, Cowen and Company started coverage on shares of Clearside Biomedical in a research note on Monday, June 27th. They issued an “outperform” rating for the company. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $16.19.
The firm’s market capitalization is $226.20 million. The stock’s 50 day moving average is $7.38 and its 200-day moving average is $7.07.
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Clearside Biomedical (NASDAQ:CLSD) last issued its earnings results on Thursday, August 11th. The company reported ($0.62) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.32) by $0.30. On average, analysts forecast that Clearside Biomedical Inc will post ($2.10) earnings per share for the current year.
A number of hedge funds have recently modified their holdings of the company. Iguana Healthcare Management LLC purchased a new stake in shares of Clearside Biomedical during the second quarter valued at about $526,000. Marshall Wace LLP purchased a new stake in shares of Clearside Biomedical during the second quarter valued at about $1,122,000. Perceptive Advisors LLC purchased a new stake in shares of Clearside Biomedical during the second quarter valued at about $4,450,000. Finally, AWM Investment Company Inc. purchased a new stake in shares of Clearside Biomedical during the second quarter valued at about $350,000.
Clearside Biomedical Company Profile
Clearside Biomedical, Inc is a late-stage clinical biopharmaceutical company. The Company is developing drug therapies to treat blinding diseases of the eye. The Company’s product candidates are focused on diseases affecting the retina and choroid, especially diseases associated with macular edema, and are injected into the suprachoroidal space (SCS) adjacent to the choroid, using its SCS Microinjector.
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