Clearside Biomedical, Inc. (NASDAQ:CLSD) Receives Consensus Rating of “Hold” from Analysts

Clearside Biomedical, Inc. (NASDAQ:CLSD) has received an average rating of “Hold” from the seven brokerages that are covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, five have given a hold recommendation and one has assigned a buy recommendation to the company. The average 1 year target price among brokers that have covered the stock in the last year is $63.00.

Several analysts have recently commented on CLSD shares. Wall Street Zen raised shares of Clearside Biomedical from a “sell” rating to a “hold” rating in a research report on Saturday, October 25th. Weiss Ratings began coverage on Clearside Biomedical in a research note on Saturday, November 1st. They set a “sell (e+)” rating for the company. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Clearside Biomedical in a research note on Tuesday, November 18th.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Clearside Biomedical stock. Apollon Wealth Management LLC acquired a new position in shares of Clearside Biomedical, Inc. (NASDAQ:CLSD) in the third quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 23,586 shares of the company’s stock, valued at approximately $94,000. Apollon Wealth Management LLC owned 0.45% of Clearside Biomedical as of its most recent filing with the SEC. 18.75% of the stock is owned by hedge funds and other institutional investors.

Clearside Biomedical Trading Down 36.4%

Shares of CLSD stock opened at $0.36 on Friday. Clearside Biomedical has a twelve month low of $0.37 and a twelve month high of $17.10. The company’s 50-day moving average price is $1.41 and its 200-day moving average price is $4.76. The stock has a market cap of $1.87 million, a price-to-earnings ratio of -0.06 and a beta of 2.04.

Clearside Biomedical (NASDAQ:CLSD) last issued its earnings results on Friday, November 14th. The company reported ($1.14) EPS for the quarter, missing analysts’ consensus estimates of ($0.67) by ($0.47). The business had revenue of $0.20 million for the quarter, compared to the consensus estimate of $0.09 million. As a group, equities research analysts predict that Clearside Biomedical will post -0.48 EPS for the current year.

About Clearside Biomedical

Clearside Biomedical, Inc is a clinical-stage biopharmaceutical company focused on developing and commercializing novel therapies for diseases affecting the back of the eye. The company’s proprietary SCS Microinjector® platform enables targeted delivery of therapeutics into the suprachoroidal space, a potential route to enhance local drug exposure while minimizing off-target effects. Clearside’s approach is designed to address a range of retinal disorders by directly depositing medication adjacent to choroid and retina.

The company’s lead approved product is XIPERE® (triamcinolone acetonide injectable suspension), which has received U.S.