HC Wainwright Cuts Clearside Biomedical (NASDAQ:CLSD) Price Target to $5.00

Clearside Biomedical (NASDAQ:CLSD) had its price target lowered by HC Wainwright from $6.00 to $5.00 in a research note issued to investors on Friday morning,Benzinga reports. HC Wainwright currently has a buy rating on the stock.

Other equities research analysts have also issued reports about the stock. JMP Securities restated a “market outperform” rating and set a $5.00 price objective on shares of Clearside Biomedical in a report on Friday, May 16th. Wall Street Zen upgraded shares of Clearside Biomedical from a “sell” rating to a “hold” rating in a report on Saturday, May 17th. Needham & Company LLC dropped their price objective on shares of Clearside Biomedical from $4.00 to $3.00 and set a “buy” rating on the stock in a report on Thursday, May 15th. Finally, Chardan Capital restated a “buy” rating and set a $6.00 price objective on shares of Clearside Biomedical in a report on Friday, March 28th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $4.80.

Clearside Biomedical Stock Performance

CLSD opened at $0.86 on Friday. The firm’s fifty day moving average is $0.87 and its two-hundred day moving average is $0.94. The firm has a market cap of $67.06 million, a PE ratio of -1.92 and a beta of 2.11. Clearside Biomedical has a twelve month low of $0.70 and a twelve month high of $1.65.

Clearside Biomedical (NASDAQ:CLSD) last issued its quarterly earnings data on Wednesday, May 14th. The company reported ($0.11) EPS for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.01. The company had revenue of $2.33 million for the quarter, compared to analyst estimates of $0.20 million. Equities analysts forecast that Clearside Biomedical will post -0.48 EPS for the current fiscal year.

Institutional Investors Weigh In On Clearside Biomedical

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC increased its stake in Clearside Biomedical by 4.5% in the 4th quarter. Geode Capital Management LLC now owns 764,058 shares of the company’s stock valued at $726,000 after buying an additional 32,672 shares during the last quarter. Investor s Fiduciary Advisor Network LLC acquired a new stake in Clearside Biomedical in the 4th quarter valued at $32,000. Finally, Northern Trust Corp increased its stake in Clearside Biomedical by 24.0% in the 4th quarter. Northern Trust Corp now owns 165,499 shares of the company’s stock valued at $157,000 after buying an additional 32,048 shares during the last quarter. 18.75% of the stock is currently owned by institutional investors and hedge funds.

Clearside Biomedical Company Profile

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.