Clearside Biomedical (NASDAQ:CLSD) Given Buy Rating at HC Wainwright

Clearside Biomedical (NASDAQ:CLSD - Get Free Report)'s stock had its "buy" rating reaffirmed by HC Wainwright in a report released on Thursday,Benzinga reports. They presently have a $6.00 price objective on the stock. HC Wainwright's target price points to a potential upside of 471.43% from the company's current price.

A number of other brokerages have also issued reports on CLSD. Chardan Capital reaffirmed a "buy" rating and set a $6.00 price objective on shares of Clearside Biomedical in a report on Monday, October 14th. StockNews.com downgraded Clearside Biomedical from a "hold" rating to a "sell" rating in a research report on Friday, November 8th. Finally, Needham & Company LLC reiterated a "buy" rating and set a $6.00 target price on shares of Clearside Biomedical in a research report on Wednesday. One investment analyst has rated the stock with a sell rating and six have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $5.33.

Clearside Biomedical Trading Down 2.8 %

Clearside Biomedical stock traded down $0.03 during midday trading on Thursday, hitting $1.05. The stock had a trading volume of 146,987 shares, compared to its average volume of 400,800. The firm's fifty day moving average is $1.19 and its two-hundred day moving average is $1.19. The company has a market capitalization of $78.47 million, a PE ratio of -2.36 and a beta of 2.33. 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 announced its quarterly earnings data 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 for the quarter, compared to analysts' expectations of $0.25 million. During the same period last year, the business earned ($0.15) earnings per share. As a group, equities research analysts predict that Clearside Biomedical will post -0.56 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Ngai Hang Victor Chong purchased 36,500 shares of the stock in a transaction that occurred on Friday, November 1st. The stock was bought at an average cost of $1.00 per share, for a total transaction of $36,500.00. Following the completion of the transaction, the insider now directly owns 100,000 shares in the company, valued at $100,000. This represents a 57.48 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 9.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Clearside Biomedical

Institutional investors have recently made changes to their positions in the company. SG Americas Securities LLC purchased a new position in shares of Clearside Biomedical during the first quarter valued at $49,000. XTX Topco Ltd grew its stake in Clearside Biomedical by 172.2% in the second quarter. XTX Topco Ltd now owns 54,313 shares of the company's stock valued at $71,000 after purchasing an additional 34,359 shares during the last quarter. Johnson & Johnson purchased a new position in Clearside Biomedical in the third quarter valued at about $105,000. Assenagon Asset Management S.A. purchased a new position in Clearside Biomedical in the second quarter valued at about $368,000. Finally, Renaissance Technologies LLC grew its stake in Clearside Biomedical by 6.6% in the second 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. Hedge funds and other institutional investors own 18.75% of the company's stock.

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.