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

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

CLSD has been the topic of a number of recent research reports. HC Wainwright reissued a "buy" rating and issued a $6.00 target price on shares of Clearside Biomedical in a report on Thursday, November 14th. Chardan Capital reissued a "buy" rating and issued a $6.00 target price on shares of Clearside Biomedical in a report on Friday, November 15th. Needham & Company LLC reissued a "buy" rating and issued a $6.00 target price on shares of Clearside Biomedical in a report on Wednesday, November 13th. Finally, StockNews.com raised Clearside Biomedical from a "sell" rating to a "hold" rating in a report on Thursday, December 12th.

Clearside Biomedical Stock Up 5.6 %

CLSD traded up $0.06 during trading on Wednesday, hitting $1.13. 347,017 shares of the stock were exchanged, compared to its average volume of 153,561. The firm has a market capitalization of $85.70 million, a P/E ratio of -2.51 and a beta of 2.22. Clearside Biomedical has a 1-year low of $0.80 and a 1-year high of $2.12. The stock has a fifty day moving average price of $0.97 and a two-hundred day moving average price of $1.07.

Clearside Biomedical (NASDAQ:CLSD - Get Free Report) last released its earnings results on Tuesday, November 12th. The company reported ($0.10) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.14) by $0.04. The company had revenue of $1.04 million during the quarter, compared to analyst estimates of $0.25 million. During the same period in the previous year, the firm posted ($0.15) EPS. Analysts predict that Clearside Biomedical will post -0.48 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of CLSD. Johnson & Johnson purchased a new stake in Clearside Biomedical during the third quarter worth $105,000. Renaissance Technologies LLC boosted its position 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 purchasing an additional 35,900 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in Clearside Biomedical by 8.8% during the third quarter. Geode Capital Management LLC now owns 731,386 shares of the company's stock worth $929,000 after purchasing an additional 59,089 shares in the last quarter. Institutional investors and hedge funds own 18.75% of the company's stock.

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.