Clearside Biomedical Inc. (CLSD) Lifted to “Hold” at Zacks Investment Research
Clearside Biomedical Inc. (NASDAQ:CLSD) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Tuesday.
According to Zacks, “Clearside Biomedical, Inc. is a biopharmaceutical company is engaged in developing first-in-class drug therapies to treat blinding diseases of the eye using Clearside proprietary suprachoroidal space(TM) microinjector. Its products include CLS-1001 for the treatment of macular edema associated with non-infectious uveitis; CLS-1003 for the treatment of macular edema associated with retinal vein occlusion; and CLS-1002 program for the treatment of wet age-related macular degeneration. Clearside Biomedical, Inc. is headquartered in Alpharetta, Georgia. “
A number of other research analysts have also commented on CLSD. Wedbush reiterated an “outperform” rating and issued a $28.00 price objective on shares of Clearside Biomedical in a research report on Thursday, August 11th. Cowen and Company assumed coverage on Clearside Biomedical in a research note on Monday, June 27th. They issued an “outperform” rating on the stock. Needham & Company LLC assumed coverage on Clearside Biomedical in a research note on Tuesday, June 28th. They issued a “buy” rating and a $16.00 price target on the stock. Finally, Stifel Nicolaus assumed coverage on Clearside Biomedical in a research note on Monday, June 27th. They issued a “buy” rating and a $13.00 price target on the stock. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $16.19.
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Shares of Clearside Biomedical (NASDAQ:CLSD) traded up 0.16% on Tuesday, reaching $24.72. The company’s stock had a trading volume of 130,826 shares. The company has a 50 day moving average price of $12.26 and a 200 day moving average price of $8.87. The company’s market cap is $507.87 million. Clearside Biomedical has a 52-week low of $5.65 and a 52-week high of $25.08.
Clearside Biomedical (NASDAQ:CLSD) last announced its quarterly earnings data on Thursday, August 11th. The company reported ($0.62) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.32) by $0.30. On average, analysts anticipate that Clearside Biomedical will post ($2.10) earnings per share for the current fiscal year.
Hedge funds have recently modified their holdings of the company. Perceptive Advisors LLC acquired a new stake in shares of Clearside Biomedical during the second quarter valued at approximately $4,450,000. Marshall Wace LLP acquired a new stake in shares of Clearside Biomedical during the second quarter valued at approximately $1,122,000. Iguana Healthcare Management LLC acquired a new stake in shares of Clearside Biomedical during the second quarter valued at approximately $526,000. Finally, AWM Investment Company Inc. acquired a new stake in shares of Clearside Biomedical during the second quarter valued at approximately $350,000. 36.61% of the stock is currently owned by institutional investors and hedge funds.
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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