Clearside Biomedical (NASDAQ:CLSD) Price Target Increased to $6.00 by Analysts at Needham & Company LLC

Clearside Biomedical (NASDAQ:CLSD) had its price objective increased by Needham & Company LLC from $4.00 to $6.00 in a research note published on Thursday morning, Benzinga reports. Needham & Company LLC currently has a buy rating on the stock.

Several other brokerages have also issued reports on CLSD. Chardan Capital started coverage on Clearside Biomedical in a research report on Wednesday, August 21st. They set a buy rating and a $6.00 target price for the company. Oppenheimer started coverage on Clearside Biomedical in a report on Tuesday, June 25th. They issued an outperform rating and a $5.00 price objective for the company. Finally, HC Wainwright reissued a buy rating and issued a $5.00 price objective on shares of Clearside Biomedical in a report on Tuesday, August 27th. One research analyst has rated the stock with a sell rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of Moderate Buy and an average target price of $5.17.

Clearside Biomedical Trading Down 5.7 %

Shares of Clearside Biomedical stock traded down $0.08 during trading hours on Thursday, hitting $1.25. 439,623 shares of the company’s stock traded hands, compared to its average volume of 385,669. Clearside Biomedical has a 12-month low of $0.65 and a 12-month high of $2.12. The company has a fifty day simple moving average of $1.15 and a 200-day simple moving average of $1.24.

Clearside Biomedical (NASDAQ:CLSD) last announced its earnings results on Monday, August 12th. The company reported ($0.10) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.14) by $0.04. The business had revenue of $0.09 million for the quarter, compared to analysts’ expectations of $0.25 million. During the same period in the prior year, the business earned ($0.15) earnings per share. Equities research analysts anticipate that Clearside Biomedical will post -0.56 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in shares of Clearside Biomedical by 14.5% during the 1st quarter. Vanguard Group Inc. now owns 2,490,796 shares of the company’s stock valued at $3,811,000 after acquiring an additional 314,480 shares during the last quarter. Renaissance Technologies LLC lifted its position in Clearside Biomedical by 6.6% in the 2nd quarter. Renaissance Technologies LLC now owns 582,689 shares of the company’s stock worth $757,000 after buying an additional 35,900 shares during the last quarter. Assenagon Asset Management S.A. bought a new stake in Clearside Biomedical in the 2nd quarter worth approximately $368,000. XTX Topco Ltd lifted its position in Clearside Biomedical by 172.2% in the 2nd quarter. XTX Topco Ltd now owns 54,313 shares of the company’s stock worth $71,000 after buying an additional 34,359 shares during the last quarter. Finally, International Assets Investment Management LLC bought a new stake in Clearside Biomedical in the 1st quarter worth approximately $57,000. Hedge funds and other institutional investors own 18.75% of the company’s stock.

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.