Clearside Biomedical’s (CLSD) Buy Rating Reaffirmed at Wedbush

Clearside Biomedical (NASDAQ:CLSD)‘s stock had its “buy” rating reaffirmed by research analysts at Wedbush in a research report issued on Wednesday.

CLSD has been the topic of a number of other research reports. Zacks Investment Research downgraded Clearside Biomedical from a “hold” rating to a “sell” rating in a research report on Tuesday, January 30th. Cowen reiterated a “buy” rating on shares of Clearside Biomedical in a research report on Wednesday, October 25th. Finally, ValuEngine downgraded Clearside Biomedical from a “sell” rating to a “strong sell” rating in a research report on Monday. Two analysts have rated the stock with a sell rating and five have assigned a buy rating to the stock. Clearside Biomedical currently has a consensus rating of “Hold” and a consensus target price of $18.33.

Clearside Biomedical (NASDAQ:CLSD) traded up $0.38 during trading hours on Wednesday, hitting $5.95. The company’s stock had a trading volume of 43,710 shares, compared to its average volume of 149,844. The stock has a market capitalization of $145.47, a P/E ratio of -2.80 and a beta of -8.67. Clearside Biomedical has a 12-month low of $5.44 and a 12-month high of $10.36. The company has a current ratio of 4.57, a quick ratio of 4.57 and a debt-to-equity ratio of 0.15.

Clearside Biomedical (NASDAQ:CLSD) last issued its quarterly earnings data on Wednesday, November 8th. The company reported ($0.72) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.55) by ($0.17). Clearside Biomedical had a negative return on equity of 90.72% and a negative net margin of 17,684.07%. The business had revenue of $0.16 million during the quarter, compared to analysts’ expectations of $0.01 million. equities analysts forecast that Clearside Biomedical will post -2.37 earnings per share for the current year.

In related news, Director Clay Thorp sold 5,000 shares of the stock in a transaction on Thursday, December 7th. The stock was sold at an average price of $6.13, for a total value of $30,650.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders sold 70,000 shares of company stock worth $476,500 in the last quarter. 20.90% of the stock is currently owned by company insiders.

Several hedge funds have recently modified their holdings of the stock. GSA Capital Partners LLP purchased a new stake in Clearside Biomedical during the third quarter valued at about $561,000. Wedbush Securities Inc. purchased a new stake in Clearside Biomedical during the third quarter valued at about $256,000. AWM Investment Company Inc. raised its position in Clearside Biomedical by 17.6% during the second quarter. AWM Investment Company Inc. now owns 401,433 shares of the company’s stock valued at $3,657,000 after purchasing an additional 60,216 shares in the last quarter. California State Teachers Retirement System raised its position in Clearside Biomedical by 84.8% during the second quarter. California State Teachers Retirement System now owns 36,600 shares of the company’s stock valued at $333,000 after purchasing an additional 16,800 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its position in Clearside Biomedical by 21,620.7% during the second quarter. The Manufacturers Life Insurance Company now owns 17,811 shares of the company’s stock valued at $162,000 after purchasing an additional 17,729 shares in the last quarter. Institutional investors own 51.66% of the company’s stock.

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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.

Analyst Recommendations for Clearside Biomedical (NASDAQ:CLSD)

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