Cowen and Company Reaffirms “Buy” Rating for Clearside Biomedical, Inc. (CLSD)
Clearside Biomedical, Inc. (NASDAQ:CLSD)‘s stock had its “buy” rating restated by research analysts at Cowen and Company in a report issued on Monday.
Several other brokerages have also weighed in on CLSD. ValuEngine raised Clearside Biomedical from a “sell” rating to a “hold” rating in a report on Saturday, June 24th. Zacks Investment Research lowered Clearside Biomedical from a “buy” rating to a “hold” rating in a report on Monday, July 17th. JMP Securities assumed coverage on Clearside Biomedical in a report on Thursday, May 25th. They issued an “outperform” rating and a $21.00 price objective for the company. Finally, Wedbush reissued an “outperform” rating and issued a $27.00 price objective on shares of Clearside Biomedical in a report on Thursday, April 20th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Clearside Biomedical presently has a consensus rating of “Buy” and a consensus target price of $19.00.
Shares of Clearside Biomedical (NASDAQ:CLSD) traded down 1.60% during midday trading on Monday, hitting $8.00. 59,316 shares of the stock were exchanged. The stock’s 50-day moving average price is $9.15 and its 200-day moving average price is $8.05. The firm’s market capitalization is $202.40 million. Clearside Biomedical has a 1-year low of $5.44 and a 1-year high of $25.08.
Clearside Biomedical (NASDAQ:CLSD) last announced its quarterly earnings data on Wednesday, May 10th. The company reported ($0.41) earnings per share for the quarter, topping the consensus estimate of ($0.44) by $0.03. Clearside Biomedical had a negative return on equity of 53.20% and a negative net margin of 154,030.02%. The company had revenue of $0.01 million during the quarter. On average, analysts forecast that Clearside Biomedical will post ($1.72) EPS for the current year.
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In other Clearside Biomedical news, Director Clay Thorp sold 15,941 shares of Clearside Biomedical stock in a transaction dated Monday, May 15th. The stock was sold at an average price of $8.94, for a total transaction of $142,512.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Daniel H. White sold 3,600 shares of Clearside Biomedical stock in a transaction dated Tuesday, June 13th. The shares were sold at an average price of $7.78, for a total value of $28,008.00. Following the transaction, the chief executive officer now directly owns 504,067 shares of the company’s stock, valued at approximately $3,921,641.26. The disclosure for this sale can be found here. In the last three months, insiders sold 125,170 shares of company stock valued at $1,080,884. 20.90% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of CLSD. Marshall Wace North America L.P. raised its position in Clearside Biomedical by 1.9% in the second quarter. Marshall Wace North America L.P. now owns 218,960 shares of the company’s stock worth $1,971,000 after buying an additional 4,010 shares during the last quarter. Bank of New York Mellon Corp raised its position in Clearside Biomedical by 168.5% in the second quarter. Bank of New York Mellon Corp now owns 93,500 shares of the company’s stock worth $852,000 after buying an additional 58,677 shares during the last quarter. State of Wisconsin Investment Board bought a new position in Clearside Biomedical during the second quarter worth $137,000. Rhumbline Advisers bought a new position in Clearside Biomedical during the second quarter worth $198,000. Finally, Granite Investment Partners LLC raised its position in Clearside Biomedical by 74.8% in the second quarter. Granite Investment Partners LLC now owns 92,941 shares of the company’s stock worth $847,000 after buying an additional 39,765 shares during the last quarter. 49.67% of the stock is owned by institutional investors and hedge funds.
Clearside Biomedical Company Profile
Clearside Biomedical, Inc is a clinical biopharmaceutical company developing first-in-class drug therapies to treat blinding diseases of the eye. The Company’s product candidates focus on diseases affecting the retina, which is the tissue that lines the inside of the eye and is primarily responsible for vision, and the choroid, which is the layer adjacent to the retina that supplies the retina with blood, oxygen and nourishment.
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