Zacks Investment Research Upgrades Clearside Biomedical Inc. (CLSD) to Hold
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. “
Several other analysts also recently issued reports on the stock. Wedbush reissued a “buy” rating and issued a $28.00 price target on shares of Clearside Biomedical in a research report on Thursday, August 25th. Needham & Company LLC assumed coverage on shares of Clearside Biomedical in a research report on Tuesday, June 28th. They issued a “buy” rating and a $16.00 price target for the company. Cowen and Company assumed coverage on shares of Clearside Biomedical in a research report on Monday, June 27th. They issued an “outperform” rating for the company. Finally, Stifel Nicolaus assumed coverage on shares of Clearside Biomedical in a research report on Monday, June 27th. They issued a “buy” rating and a $13.00 price target for the company. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. The company 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% during trading on Tuesday, hitting $24.72. 130,826 shares of the stock traded hands. The stock’s market cap is $507.87 million. Clearside Biomedical has a 1-year low of $5.65 and a 1-year high of $25.08. The stock has a 50 day moving average price of $11.76 and a 200-day moving average price of $8.69.
Clearside Biomedical (NASDAQ:CLSD) last posted its quarterly earnings results on Thursday, August 11th. The company reported ($0.62) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.32) by $0.30. Equities analysts forecast that Clearside Biomedical will post ($2.10) EPS for the current year.
A number of institutional investors have recently bought and sold shares of the company. AWM Investment Company Inc. purchased a new position in Clearside Biomedical during the second quarter worth about $350,000. Iguana Healthcare Management LLC purchased a new position in Clearside Biomedical during the second quarter worth about $526,000. Marshall Wace LLP purchased a new position in Clearside Biomedical during the second quarter worth about $1,122,000. Finally, Perceptive Advisors LLC purchased a new position in Clearside Biomedical during the second quarter worth about $4,450,000. 36.61% of the stock is currently owned by hedge funds and other institutional investors.
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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