Clearside Biomedical, Inc. (NASDAQ:CLSD) Receives $5.33 Average Price Target from Analysts

Shares of Clearside Biomedical, Inc. (NASDAQ:CLSD - Get Free Report) have been given a consensus recommendation of "Buy" by the six research firms that are presently covering the firm, Marketbeat.com reports. Six equities research analysts have rated the stock with a buy recommendation. The average 12-month price target among analysts that have issued a report on the stock in the last year is $5.33.

Several research analysts recently issued reports on the company. Needham & Company LLC restated a "buy" rating and set a $6.00 price objective on shares of Clearside Biomedical in a research report on Wednesday, November 13th. StockNews.com raised Clearside Biomedical from a "sell" rating to a "hold" rating in a report on Thursday, December 12th. HC Wainwright reaffirmed a "buy" rating and set a $6.00 price objective on shares of Clearside Biomedical in a research note on Thursday, November 14th. Finally, Chardan Capital reiterated a "buy" rating and set a $6.00 price objective on shares of Clearside Biomedical in a research report on Friday, November 15th.

Insider Activity at Clearside Biomedical

In related news, insider Ngai Hang Victor Chong bought 36,500 shares of the stock in a transaction that occurred on Friday, November 1st. The stock was purchased at an average cost of $1.00 per share, for a total transaction of $36,500.00. Following the completion of the acquisition, the insider now owns 100,000 shares in the company, valued at $100,000. This trade represents a 57.48 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 9.20% of the company's stock.

Hedge Funds Weigh In On Clearside Biomedical

A number of hedge funds have recently made changes to their positions in the stock. Geode Capital Management LLC lifted its stake in shares of Clearside Biomedical by 8.8% in the 3rd quarter. Geode Capital Management LLC now owns 731,386 shares of the company's stock valued at $929,000 after purchasing an additional 59,089 shares in the last quarter. Johnson & Johnson purchased a new position in Clearside Biomedical in the third quarter valued at approximately $105,000. XTX Topco Ltd lifted its position in Clearside Biomedical by 172.2% during the second quarter. XTX Topco Ltd now owns 54,313 shares of the company's stock valued at $71,000 after buying an additional 34,359 shares in the last quarter. Finally, Renaissance Technologies LLC grew its stake in Clearside Biomedical by 6.6% during the second 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 period. Institutional investors and hedge funds own 18.75% of the company's stock.

Clearside Biomedical Trading Up 0.7 %

Shares of CLSD stock traded up $0.01 during mid-day trading on Friday, reaching $0.98. The stock had a trading volume of 121,734 shares, compared to its average volume of 155,986. The company has a market cap of $74.33 million, a P/E ratio of -2.18 and a beta of 2.20. Clearside Biomedical has a 12-month low of $0.80 and a 12-month high of $2.12. The business has a 50-day simple moving average of $1.02 and a 200 day simple moving average of $1.11.

Clearside Biomedical (NASDAQ:CLSD - Get Free Report) last posted its earnings results on Tuesday, November 12th. The company reported ($0.10) earnings per share 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 last year, the business posted ($0.15) earnings per share. Research analysts anticipate that Clearside Biomedical will post -0.48 EPS for the current year.

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.