Clearside Biomedical's (CLSD) Buy Rating Reaffirmed at Chardan Capital

Clearside Biomedical (NASDAQ:CLSD - Get Free Report)'s stock had its "buy" rating reissued by equities researchers at Chardan Capital in a research report issued to clients and investors on Friday,Benzinga reports. They presently have a $6.00 target price on the stock.

CLSD has been the topic of a number of other research reports. HC Wainwright reaffirmed a "buy" rating and set a $6.00 price objective on shares of Clearside Biomedical in a research report on Thursday. Needham & Company LLC reissued a "buy" rating and set a $6.00 price target on shares of Clearside Biomedical in a research report on Wednesday. Finally, StockNews.com downgraded shares of Clearside Biomedical from a "hold" rating to a "sell" rating in a research report on Friday, November 8th. One investment analyst has rated the stock with a sell rating and six have assigned a buy rating to the stock. Based on data from 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 traded down $0.06 during trading hours on Friday, hitting $0.99. The company's stock had a trading volume of 435,581 shares, compared to its average volume of 400,971. Clearside Biomedical has a 12 month low of $0.90 and a 12 month high of $2.12. The business's 50-day moving average price is $1.19 and its 200-day moving average price is $1.19. The stock has a market cap of $75.08 million, a price-to-earnings ratio of -2.20 and a beta of 2.33.

Clearside Biomedical (NASDAQ:CLSD - Get Free Report) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.10) earnings per share for the quarter, beating analysts' consensus estimates of ($0.14) by $0.04. The firm had revenue of $1.04 million for the quarter, compared to the consensus estimate of $0.25 million. During the same quarter last year, the firm earned ($0.15) EPS. On average, analysts forecast that Clearside Biomedical will post -0.56 earnings per share for the current year.

Insider Activity at Clearside Biomedical

In other Clearside Biomedical news, insider Ngai Hang Victor Chong purchased 36,500 shares of the company's stock in a transaction on Friday, November 1st. The stock was acquired at an average price of $1.00 per share, for a total transaction of $36,500.00. Following the completion of the purchase, the insider now directly owns 100,000 shares in the company, valued at approximately $100,000. The trade was a 57.48 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 9.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Clearside Biomedical

A number of large investors have recently modified their holdings of CLSD. SG Americas Securities LLC purchased a new position in Clearside Biomedical in the first quarter valued at approximately $49,000. XTX Topco Ltd boosted its holdings in shares of Clearside Biomedical by 172.2% in 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. Renaissance Technologies LLC grew its position 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 buying an additional 35,900 shares during the last quarter. Johnson & Johnson acquired a new stake in Clearside Biomedical during the 3rd quarter worth $105,000. Finally, Assenagon Asset Management S.A. purchased a new stake in Clearside Biomedical in the second quarter valued at $368,000. 18.75% of the stock is owned by hedge funds and other institutional investors.

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.

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