Clearside Biomedical (NASDAQ:CLSD) Upgraded to Hold at 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 issued to investors on Thursday morning.

Other analysts have also issued research reports about the stock. Chardan Capital restated a "buy" rating and set a $6.00 price target on shares of Clearside Biomedical in a research note on Friday, November 15th. Needham & Company LLC restated a "buy" rating and issued a $6.00 target price on shares of Clearside Biomedical in a research note on Wednesday, November 13th. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $6.00 target price on shares of Clearside Biomedical in a report on Thursday, November 14th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $5.33.

Clearside Biomedical Price Performance

Shares of NASDAQ:CLSD traded down $0.01 during mid-day trading on Thursday, hitting $1.00. The company had a trading volume of 159,883 shares, compared to its average volume of 388,271. Clearside Biomedical has a one year low of $0.92 and a one year high of $2.12. The firm has a fifty day moving average price of $1.12 and a 200 day moving average price of $1.15. The company has a market capitalization of $75.84 million, a PE ratio of -2.22 and a beta of 2.29.

Clearside Biomedical (NASDAQ:CLSD - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $1.04 million for the quarter, compared to analyst estimates of $0.25 million. During the same quarter in the prior year, the company posted ($0.15) EPS. Research analysts expect that Clearside Biomedical will post -0.48 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Ngai Hang Victor Chong purchased 36,500 shares of the firm's stock in a transaction dated Friday, November 1st. The shares were purchased at an average price of $1.00 per share, with a total value 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 position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 9.20% of the company's stock.

Hedge Funds Weigh In On Clearside Biomedical

A number of hedge funds and other institutional investors have recently modified their holdings of CLSD. XTX Topco Ltd raised its holdings in shares of 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 buying an additional 34,359 shares in the last quarter. Johnson & Johnson purchased a new position in Clearside Biomedical in the 3rd quarter worth approximately $105,000. Assenagon Asset Management S.A. bought a new stake in Clearside Biomedical in the 2nd quarter worth $368,000. Renaissance Technologies LLC raised its position in Clearside Biomedical by 6.6% during the 2nd quarter. Renaissance Technologies LLC now owns 582,689 shares of the company's stock valued at $757,000 after purchasing an additional 35,900 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in Clearside Biomedical by 8.8% in the 3rd 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. 18.75% of the stock is currently owned by hedge funds and other institutional investors.

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.