Clearside Biomedical, Inc. (NASDAQ:CLSD) Given Consensus Recommendation of “Buy” by Analysts

Clearside Biomedical, Inc. (NASDAQ:CLSD) has earned a consensus rating of “Buy” from the four brokerages that are currently covering the firm, MarketBeat Ratings reports. Four investment analysts have rated the stock with a buy rating. The average 1-year price objective among brokers that have covered the stock in the last year is $4.75.

A number of research analysts recently commented on CLSD shares. HC Wainwright reaffirmed a “buy” rating and issued a $6.00 target price on shares of Clearside Biomedical in a research report on Thursday, March 14th. JMP Securities reaffirmed a “market outperform” rating and issued a $5.00 target price on shares of Clearside Biomedical in a research report on Wednesday, March 13th. StockNews.com raised shares of Clearside Biomedical from a “sell” rating to a “hold” rating in a research report on Saturday, February 10th. Wedbush reiterated an “outperform” rating and set a $4.00 price target (down previously from $5.00) on shares of Clearside Biomedical in a research note on Wednesday, March 13th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $4.00 price target on shares of Clearside Biomedical in a research note on Thursday, April 11th.

Insider Activity at Clearside Biomedical

In other news, insider Ngai Hang Victor Chong bought 30,000 shares of Clearside Biomedical stock in a transaction dated Wednesday, March 20th. The shares were acquired at an average cost of $1.60 per share, with a total value of $48,000.00. Following the completion of the transaction, the insider now owns 30,000 shares in the company, valued at approximately $48,000. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, insider Ngai Hang Victor Chong purchased 30,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 20th. The stock was acquired at an average price of $1.60 per share, for a total transaction of $48,000.00. Following the completion of the purchase, the insider now owns 30,000 shares in the company, valued at $48,000. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder Bradford T. Whitmore purchased 444,444 shares of the company’s stock in a transaction that occurred on Wednesday, February 7th. The stock was bought at an average price of $1.35 per share, with a total value of $599,999.40. Following the purchase, the insider now owns 4,495,034 shares of the company’s stock, valued at approximately $6,068,295.90. The disclosure for this purchase can be found here. 9.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Clearside Biomedical

Institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in Clearside Biomedical by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 2,176,316 shares of the company’s stock valued at $2,546,000 after acquiring an additional 9,431 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in Clearside Biomedical by 101.5% in the 1st quarter. Renaissance Technologies LLC now owns 864,951 shares of the company’s stock valued at $1,981,000 after acquiring an additional 435,734 shares during the last quarter. BlackRock Inc. lifted its holdings in Clearside Biomedical by 1.9% in the 2nd quarter. BlackRock Inc. now owns 813,310 shares of the company’s stock valued at $911,000 after acquiring an additional 14,789 shares during the last quarter. State Street Corp lifted its holdings in Clearside Biomedical by 5.2% in the 1st quarter. State Street Corp now owns 193,363 shares of the company’s stock valued at $443,000 after acquiring an additional 9,475 shares during the last quarter. Finally, Bank of America Corp DE lifted its holdings in Clearside Biomedical by 2,760.2% in the 1st quarter. Bank of America Corp DE now owns 120,500 shares of the company’s stock valued at $276,000 after acquiring an additional 116,287 shares during the last quarter. Institutional investors and hedge funds own 18.75% of the company’s stock.

Clearside Biomedical Stock Performance

Shares of CLSD stock opened at $1.15 on Wednesday. The firm’s 50 day moving average price is $1.45 and its 200-day moving average price is $1.20. Clearside Biomedical has a one year low of $0.65 and a one year high of $2.12. The firm has a market cap of $85.93 million, a P/E ratio of -2.17 and a beta of 2.29.

Clearside Biomedical (NASDAQ:CLSD) last released its earnings results on Tuesday, March 12th. The company reported ($0.08) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.02. The business had revenue of $6.35 million for the quarter, compared to analyst estimates of $3.40 million. As a group, research analysts predict that Clearside Biomedical will post -0.56 EPS for the current fiscal year.

About Clearside Biomedical

Clearside Biomedical, Inc, a biopharmaceutical company, focuses on the revolutionizing the delivery of therapies to the back of the eye through the suprachoroidal space. It offers XIPERE, a triamcinolone acetonide suprachoroidal injectable suspension for the treatment of uveitis macular edema. It also develops CLS-AX, an axitinib injectable suspension for suprachoroidal injection, which is in Phase IIb clinical trial to treat wet AMD.