Needham & Company LLC Raises Clearside Biomedical (NASDAQ:CLSD) Price Target to $6.00

Clearside Biomedical (NASDAQ:CLSD - Get Free Report) had its target price boosted by research analysts at Needham & Company LLC from $4.00 to $6.00 in a research note issued to investors on Thursday, Benzinga reports. The firm presently has a "buy" rating on the stock. Needham & Company LLC's price objective would indicate a potential upside of 354.55% from the stock's previous close.

A number of other brokerages have also issued reports on CLSD. HC Wainwright reiterated a "buy" rating and set a $5.00 price target on shares of Clearside Biomedical in a research report on Tuesday, August 27th. Oppenheimer initiated coverage on shares of Clearside Biomedical in a report on Tuesday, June 25th. They set an "outperform" rating and a $5.00 price target on the stock. Finally, Chardan Capital began coverage on shares of Clearside Biomedical in a report on Wednesday, August 21st. They issued a "buy" rating and a $6.00 price objective for the company. One research analyst has rated the stock with a sell rating and six have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $5.17.

Clearside Biomedical Stock Up 0.8 %

Shares of NASDAQ CLSD traded up $0.01 during midday trading on Thursday, hitting $1.32. The stock had a trading volume of 1,673,153 shares, compared to its average volume of 385,318. Clearside Biomedical has a 1-year low of $0.65 and a 1-year high of $2.12. The company has a fifty day moving average price of $1.14 and a 200 day moving average price of $1.23. The company has a market capitalization of $98.64 million, a price-to-earnings ratio of -2.38 and a beta of 2.35.

Clearside Biomedical (NASDAQ:CLSD - Get Free Report) last posted its quarterly earnings data on Monday, August 12th. The company reported ($0.10) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.14) by $0.04. The business had revenue of $0.09 million for the quarter, compared to analysts' expectations of $0.25 million. During the same quarter in the prior year, the firm earned ($0.15) earnings per share. On average, research analysts forecast that Clearside Biomedical will post -0.56 EPS for the current year.

Institutional Trading of Clearside Biomedical

Several institutional investors have recently made changes to their positions in the business. SG Americas Securities LLC bought a new position in Clearside Biomedical during the first quarter worth about $49,000. International Assets Investment Management LLC bought a new position in shares of Clearside Biomedical during the 1st quarter worth approximately $57,000. XTX Topco Ltd boosted its stake in 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. Assenagon Asset Management S.A. bought a new stake in Clearside Biomedical in the second quarter valued at $368,000. Finally, Renaissance Technologies LLC raised its stake in Clearside Biomedical by 6.6% during 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. 18.75% of the stock is currently 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.