Clearside Biomedical (NASDAQ:CLSD) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Clearside Biomedical (NASDAQ:CLSD - Free Report) from a sell rating to a hold rating in a research note published on Saturday.

CLSD has been the subject of a number of other research reports. Needham & Company LLC restated a "buy" rating and set a $6.00 price objective on shares of Clearside Biomedical in a report on Wednesday. HC Wainwright reiterated a "buy" rating and issued a $6.00 target price on shares of Clearside Biomedical in a report on Thursday. Finally, Chardan Capital restated a "buy" rating and set a $6.00 price target on shares of Clearside Biomedical in a research note on Friday. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $5.33.

Clearside Biomedical Trading Down 5.7 %

CLSD stock traded down $0.06 during midday trading on Friday, reaching $0.99. 435,642 shares of the company's stock traded hands, compared to its average volume of 400,971. The stock has a market cap of $75.08 million, a P/E ratio of -2.20 and a beta of 2.33. The stock's 50-day moving average is $1.19 and its 200 day moving average is $1.19. Clearside Biomedical has a 52-week low of $0.90 and a 52-week high of $2.12.

Clearside Biomedical (NASDAQ:CLSD - Get Free Report) last released its quarterly earnings data 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 business had revenue of $1.04 million during the quarter, compared to the consensus estimate of $0.25 million. During the same period last year, the company earned ($0.15) EPS. As a group, research analysts expect that Clearside Biomedical will post -0.56 EPS for the current fiscal year.

Insider Transactions at Clearside Biomedical

In related news, insider Ngai Hang Victor Chong bought 36,500 shares of the company's stock in a transaction on Friday, November 1st. The shares were bought at an average price of $1.00 per share, with a total value of $36,500.00. Following the transaction, the insider now owns 100,000 shares in the company, valued at approximately $100,000. This trade represents a 57.48 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 9.20% of the company's stock.

Institutional Investors Weigh In On Clearside Biomedical

Institutional investors and hedge funds have recently made changes to their positions in the stock. Geode Capital Management LLC raised its stake in shares of Clearside Biomedical by 8.8% in 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 during the last quarter. Johnson & Johnson purchased a new position in Clearside Biomedical during the 3rd quarter worth approximately $105,000. XTX Topco Ltd lifted its stake in Clearside Biomedical by 172.2% during the 2nd quarter. XTX Topco Ltd now owns 54,313 shares of the company's stock valued at $71,000 after acquiring an additional 34,359 shares during the period. Renaissance Technologies LLC boosted 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 acquiring an additional 35,900 shares during the last quarter. Finally, Assenagon Asset Management S.A. purchased a new stake in shares of Clearside Biomedical in the 2nd quarter valued at $368,000. 18.75% of the stock is currently owned by institutional investors and hedge funds.

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.