Chardan Capital Reaffirms Buy Rating for Clearside Biomedical (NASDAQ:CLSD)

Chardan Capital reissued their buy rating on shares of Clearside Biomedical (NASDAQ:CLSD) in a report released on Friday morning,Benzinga reports. The firm currently has a $6.00 target price on the stock.

A number of other analysts have also weighed in on the stock. StockNews.com lowered shares of Clearside Biomedical from a “hold” rating to a “sell” rating in a research note on Tuesday, March 18th. HC Wainwright reaffirmed a “buy” rating and set a $6.00 price target on shares of Clearside Biomedical in a research report on Thursday, March 6th. Finally, Needham & Company LLC decreased their price objective on Clearside Biomedical from $6.00 to $4.00 and set a “buy” rating for the company in a report on Friday. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $5.25.

Clearside Biomedical Price Performance

Shares of CLSD stock opened at $0.95 on Friday. The business has a fifty day moving average of $0.96 and a 200 day moving average of $1.05. The firm has a market capitalization of $72.05 million, a price-to-earnings ratio of -2.11 and a beta of 2.10. Clearside Biomedical has a 1 year low of $0.77 and a 1 year high of $1.65.

Clearside Biomedical (NASDAQ:CLSD) last released its earnings results on Thursday, March 27th. The company reported ($0.10) EPS for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.03. The firm had revenue of $0.31 million for the quarter, compared to analyst estimates of $0.27 million. As a group, equities research analysts expect that Clearside Biomedical will post -0.48 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Investor s Fiduciary Advisor Network LLC purchased a new position in Clearside Biomedical in the 4th quarter valued at about $32,000. Northern Trust Corp raised its holdings in shares of Clearside Biomedical by 24.0% during the 4th quarter. Northern Trust Corp now owns 165,499 shares of the company’s stock worth $157,000 after acquiring an additional 32,048 shares during the period. Finally, Geode Capital Management LLC boosted its holdings 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 purchasing an additional 32,672 shares during the last quarter. 18.75% of the stock is 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.