Brokerages Set Clearside Biomedical, Inc. (NASDAQ:CLSD) Price Target at $5.33

Shares of Clearside Biomedical, Inc. (NASDAQ:CLSD - Get Free Report) have earned a consensus recommendation of "Buy" from the six brokerages that are currently covering the firm, Marketbeat.com reports. Six equities research analysts have rated the stock with a buy recommendation. The average 12-month target price among brokers that have covered the stock in the last year is $5.33.

A number of research firms have issued reports on CLSD. StockNews.com upgraded shares of Clearside Biomedical from a "sell" rating to a "hold" rating in a report on Thursday, December 12th. HC Wainwright reissued a "buy" rating and set a $6.00 price objective on shares of Clearside Biomedical in a research note on Thursday, November 14th. Chardan Capital reaffirmed a "buy" rating and issued a $6.00 target price on shares of Clearside Biomedical in a research note on Friday, November 15th. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $6.00 price target on shares of Clearside Biomedical in a report on Wednesday, November 13th.

Clearside Biomedical Stock Up 1.0 %

Shares of Clearside Biomedical stock traded up $0.01 during trading on Tuesday, hitting $1.02. 218,433 shares of the company were exchanged, compared to its average volume of 386,868. Clearside Biomedical has a fifty-two week low of $0.92 and a fifty-two week high of $2.12. The firm has a 50 day moving average price of $1.10 and a 200 day moving average price of $1.14. The stock has a market capitalization of $77.36 million, a price-to-earnings ratio of -2.24 and a beta of 2.29.

Clearside Biomedical (NASDAQ:CLSD - Get Free Report) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.10) earnings per share for the quarter, topping 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 last year, the firm earned ($0.15) earnings per share. Analysts predict that Clearside Biomedical will post -0.48 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Ngai Hang Victor Chong purchased 36,500 shares of the stock in a transaction on Friday, November 1st. The stock was purchased at an average price of $1.00 per share, with a total value of $36,500.00. Following the completion of the transaction, the insider now owns 100,000 shares in the company, valued at approximately $100,000. The trade was 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. 9.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Clearside Biomedical

Hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. increased its position in Clearside Biomedical by 14.5% during the 1st quarter. Vanguard Group Inc. now owns 2,490,796 shares of the company's stock worth $3,811,000 after purchasing an additional 314,480 shares in the last quarter. Geode Capital Management LLC grew its stake 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 buying an additional 59,089 shares during the period. Renaissance Technologies LLC increased its position in shares of Clearside Biomedical by 6.6% in the second quarter. Renaissance Technologies LLC now owns 582,689 shares of the company's stock worth $757,000 after acquiring an additional 35,900 shares in the last quarter. Assenagon Asset Management S.A. purchased a new position in shares of Clearside Biomedical in the 2nd quarter valued at $368,000. Finally, Johnson & Johnson purchased a new position in shares of Clearside Biomedical in the 3rd quarter valued at $105,000. 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.