Clearside Biomedical (NASDAQ:CLSD) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Clearside Biomedical (NASDAQ:CLSD) from a sell rating to a hold rating in a research note released on Saturday.

Several other equities research analysts also recently weighed in on the company. HC Wainwright reiterated a “buy” rating and issued a $6.00 price target on shares of Clearside Biomedical in a report on Thursday, November 14th. Chardan Capital restated a “buy” rating and set a $6.00 price objective on shares of Clearside Biomedical in a research note on Friday, November 15th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $6.00 price target on shares of Clearside Biomedical in a report on Wednesday, November 13th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, Clearside Biomedical has an average rating of “Moderate Buy” and an average target price of $5.33.

Clearside Biomedical Stock Performance

CLSD stock opened at $1.03 on Friday. Clearside Biomedical has a fifty-two week low of $0.92 and a fifty-two week high of $2.12. The firm has a fifty day moving average price of $1.19 and a 200 day moving average price of $1.18. The firm has a market cap of $78.12 million, a PE ratio of -2.33 and a beta of 2.33.

Clearside Biomedical (NASDAQ:CLSD) last announced its earnings results on Tuesday, November 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 $1.04 million for the quarter, compared to analysts’ expectations of $0.25 million. During the same quarter in the prior year, the company posted ($0.15) earnings per share. On average, equities analysts predict that Clearside Biomedical will post -0.51 EPS for the current year.

Insider Buying and Selling

In other news, insider Ngai Hang Victor Chong acquired 36,500 shares of the firm’s stock in a transaction on Friday, November 1st. The shares were bought at an average price of $1.00 per share, for a total transaction of $36,500.00. Following the acquisition, the insider now owns 100,000 shares of the company’s stock, valued at approximately $100,000. This trade represents a 57.48 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. 9.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Assenagon Asset Management S.A. purchased a new stake in shares of Clearside Biomedical in the 2nd quarter valued at approximately $368,000. Vanguard Group Inc. increased its holdings in shares of Clearside Biomedical by 14.5% in 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. SG Americas Securities LLC purchased a new position in shares of Clearside Biomedical during the first quarter worth about $49,000. XTX Topco Ltd grew its position in shares of Clearside Biomedical by 172.2% during the second quarter. XTX Topco Ltd now owns 54,313 shares of the company’s stock worth $71,000 after acquiring an additional 34,359 shares during the last quarter. Finally, Renaissance Technologies LLC increased its stake in Clearside Biomedical by 6.6% in the second quarter. Renaissance Technologies LLC now owns 582,689 shares of the company’s stock valued at $757,000 after purchasing an additional 35,900 shares during the period. 18.75% of the stock is currently owned by institutional investors and hedge funds.

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.