Clearside Biomedical Inc. (CLSD) Receives “Outperform” Rating from Wedbush
Clearside Biomedical Inc. (NASDAQ:CLSD)‘s stock had its “outperform” rating reiterated by stock analysts at Wedbush in a research report issued to clients and investors on Wednesday. They presently have a $28.00 price target on the stock. Wedbush’s price target indicates a potential upside of 28.09% from the company’s previous close.
Several other brokerages have also commented on CLSD. Zacks Investment Research raised Clearside Biomedical from a “sell” rating to a “hold” rating in a research note on Monday, September 19th. Stifel Nicolaus began 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. Needham & Company LLC began 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, Cowen and Company assumed coverage on Clearside Biomedical in a research note on Monday, June 27th. They issued an “outperform” rating on the stock. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $16.19.
Shares of Clearside Biomedical (NASDAQ:CLSD) traded down 4.85% during trading on Wednesday, reaching $20.80. The company had a trading volume of 35,897 shares. Clearside Biomedical has a 12 month low of $5.65 and a 12 month high of $25.08. The stock has a 50 day moving average price of $14.20 and a 200 day moving average price of $9.48. The firm’s market capitalization is $427.34 million.
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Clearside Biomedical (NASDAQ:CLSD) last issued its quarterly earnings data on Thursday, August 11th. The company reported ($0.62) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.32) by $0.30. On average, equities research analysts forecast that Clearside Biomedical will post ($2.10) EPS for the current year.
Institutional investors have recently modified their holdings of the stock. AWM Investment Company Inc. bought a new stake in Clearside Biomedical during the second quarter worth approximately $350,000. Iguana Healthcare Management LLC bought a new stake in Clearside Biomedical during the second quarter worth approximately $526,000. Marshall Wace LLP bought a new stake in Clearside Biomedical during the second quarter worth approximately $1,122,000. Finally, Perceptive Advisors LLC bought a new stake in Clearside Biomedical during the second quarter worth approximately $4,450,000. 36.61% of the stock is currently owned by institutional investors and hedge funds.
About Clearside Biomedical
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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