Clearside Biomedical (NASDAQ:CLSD) Receives Buy Rating from Chardan Capital

Chardan Capital reissued their buy rating on shares of Clearside Biomedical (NASDAQ:CLSD) in a research report sent to investors on Monday, Benzinga reports. Chardan Capital currently has a $6.00 price target on the stock.

Several other equities research analysts also recently weighed in on CLSD. Needham & Company LLC upped their price target on Clearside Biomedical from $4.00 to $6.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. HC Wainwright reiterated a “buy” rating and issued a $5.00 price target on shares of Clearside Biomedical in a research note on Tuesday, August 27th. Finally, Oppenheimer assumed coverage on shares of Clearside Biomedical in a research report on Tuesday, June 25th. They issued an “outperform” rating and a $5.00 price objective on the stock. One analyst has rated the stock with a sell rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $5.17.

Clearside Biomedical Stock Performance

Shares of CLSD opened at $1.15 on Monday. The company’s 50-day simple moving average is $1.16 and its 200-day simple moving average is $1.22. Clearside Biomedical has a 1 year low of $0.65 and a 1 year high of $2.12. The stock has a market capitalization of $85.94 million, a PE ratio of -2.09 and a beta of 2.35.

Clearside Biomedical (NASDAQ:CLSD) last released its earnings results on Monday, August 12th. The company reported ($0.10) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.04. The business had revenue of $0.09 million for the quarter, compared to analyst estimates of $0.25 million. During the same quarter last year, the company earned ($0.15) earnings per share. On average, sell-side analysts predict that Clearside Biomedical will post -0.56 earnings per share for the current year.

Institutional Trading of Clearside Biomedical

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC acquired a new position in shares of Clearside Biomedical in the 1st quarter valued at $49,000. International Assets Investment Management LLC acquired a new position in Clearside Biomedical in the first quarter valued at $57,000. XTX Topco Ltd grew its holdings 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 purchasing an additional 34,359 shares during the last quarter. Assenagon Asset Management S.A. acquired a new stake in shares of Clearside Biomedical during the second quarter worth about $368,000. Finally, Renaissance Technologies LLC lifted its holdings in shares of Clearside Biomedical by 6.6% in the 2nd 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 last quarter. Institutional investors and hedge funds 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.